Market Overview

3 Tech Picks To Watch, According To RBC's Mark Mahaney

Share:
3 Tech Picks To Watch, According To RBC's Mark Mahaney

The COVID-19 pandemic ushered in permanent changes to the workplace environment and consumer behavior and this should benefit a small handful of stocks, RBC Capital Markets internet analyst Mark Mahaney said on CNBC.

Looking Beyond Monster Stocks: Several "monster stocks" like Shopify Inc (NYSE: SHOP) generated superior returns versus the broader market and now may be the time to look at "recovery stocks," Mahaney said. Investors should pay attention to tech stocks that have lagged their peers' year-to-date basis and are only now starting to recover.

The top three picks include ride-hailing company Uber Technologies Inc (NYSE: UBER), online travel company Booking Holdings Inc (NASDAQ: BKNG) and Facebook, Inc. (NASDAQ: FB) as a play on the ongoing recovery in the online advertising market.

TikTok Talk: TikTok is benefiting from massive adoption and represents an attractive asset as part of a potential acquisition, Mahaney said. TikTok is a one-of-its-kind mobile-first app with an excellent algorithm that makes it highly addictive.

Facebook's new TikTok-like service called Reels isn't necessarily better than TikTok but it's just as compelling, the analyst said. As such, if TikTok is ultimately banned, users will "very quickly" get used to living with Reels as it is a great product right out of the gate.

Meanwhile, the odds of TikTok getting banned is "much greater than I would have thought" to be even just a few weeks ago, Mahaney said.

Related Links:

5 Coronavirus Stock Valuations Surging During The Pandemic

These 10 Stocks Have Surged During The Coronavirus Pandemic

 

Related Articles (FB + BKNG)

View Comments and Join the Discussion!

Posted-In: CNBC CoronavirusAnalyst Color Travel Analyst Ratings Tech Media General

Latest Ratings

StockFirmActionPT
GRWGRoth CapitalMaintains20.0
IIPRRoth CapitalMaintains150.0
CRDFMaxim GroupMaintains14.0
KGCScotiaBankMaintains11.0
AFNScotiaBankMaintains35.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com