The internet sector is experiencing significant growth as digital technology becomes increasingly integrated into all business sectors, leading to a projected substantial increase in widespread internet adoption in the coming years.
Given this backdrop, it could be wise to invest in quality internet service stocks VeriSign, Inc. (VRSN – Get Rating), Wix.com Ltd. (WIX – Get Rating), Perion Network Ltd. (PERI – Get Rating), 8×8, Inc. (EGHT – Get Rating), and Liquidity Services, Inc. (LQDT – Get Rating).
Let’s discuss why the internet – services industry is well-positioned for growth before deep diving into the fundamentals of these stocks.
In April 2023, there were 5.18 billion internet users globally, accounting for 64.6% of the world’s population. The profound impact of the internet is evident in its role in connecting people worldwide and facilitating the exchange of information and ideas through innovative means. This demand is primarily driven by the increasing need for virtual communication, remote work tools, e-commerce, and streaming services.
Government initiatives aimed at expanding internet access are improving prospects. The Biden-Harris Administration has allocated $42.45 billion through the Broadband Equity, Access, and Deployment (BEAD) Program to finance planning, infrastructure deployment, and adoption programs to increase high-speed internet access significantly.
Additionally, the growth of the internet industry is driven by the increasing adoption of 5G technology, which offers faster speed and improved connectivity. The expansion of fixed wireless access further enhances industry prospects.
Considering these conducive trends, let’s analyze the fundamental aspects of the five Internet – Services picks, beginning with…
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