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Amazon (NASDAQ:AMZN) is seen as the most undervalued mega-cap tech name, according to Raymond James’ survey conducted in late December and early January to gauge investor thoughts on Internet fundamentals and stock outlooks for 2023.
Nearly 60% of respondents believe Amazon is undervalued, followed by Meta Platforms (NASDAQ:META) (48%), and Alphabet (NASDAQ:GOOGL) (45%). Elsewhere, 52% of respondents said that Microsoft (NASDAQ:MSFT) is “fairly valued.”
As far as mid-large caps are concerned, travel businesses Booking (NASDAQ:BKNG) and Expedia (NASDAQ:EXPE) are seen as the most undervalued companies while DoorDash (NYSE:DASH), Peloton (NASDAQ:PTON), and Chewy (NYSE:CHWY) as the most overvalued Internet names.
Here are other key takeaways from the survey:
