From Nasdaq: 2024-11-11 07:45:00

Zacks Equity Research recommends investing in Shopify, Alphabet, and Uber in the Internet Services industry due to positive macro factors and rate cuts. The industry benefits from increased digitization and diverse services offered. Shopify, Alphabet, and Uber are top picks with strong growth potential. The industry has outperformed the broader market in terms of stock market performance and valuation, making it attractive for investors.

Shopify, a Canadian ecommerce platform, shows impressive growth with revenue up 21% year over year. Estimates project significant revenue and earnings growth for the company. Alphabet, known for its search engine, continues to grow revenue at a double-digit rate with strong earnings projections. Uber, providing ride-hailing and food delivery services, sees revenue and earnings growth ahead, with analysts raising estimates.

Zacks Industry Rank for Internet Services is in the top 26%, indicating opportunities in the sector. The industry has shown stability and outperformed the broader Technology sector and S&P 500. Valuation is attractive with a forward P/E ratio at a discount compared to the sector and S&P 500. Shopify, Alphabet, and Uber are solid bets with strong growth potential in the industry.

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