In the aftermath of the pandemic, the global landscape experienced an accelerated surge in digital activities, fueled by the growing preference for remote work culture and increased reliance on online services. Moreover, the internet industry’s prospects are further solidified by government initiatives.
Given the backdrop, this article explores the fundamentals of three quality internet stocks: Yelp Inc. (YELP – Get Rating), Liquidity Services, Inc. (LQDT – Get Rating), and Similarweb Ltd. (SMWB – Get Rating). However, before jumping into the fundamentals of these stocks, let us briefly examine the factors brightening the prospects of this industry.
In the transformed post-pandemic business landscape, the worldwide internet services market is anticipated to expand significantly to reach $916.50 billion by 2030, growing at an impressive CAGR of 8.2% during the forecasted period from 2022 to 2030.
As of October 2023, the global count of internet users stood at 5.30 billion, representing 65.7% of the world’s population. Within this figure, 4.95 billion people, or 61.4% of the global population, were engaged as social media users.
Moreover, as a central hub for technological innovation and home to some of the world’s foremost internet companies, the United States has witnessed a continual rise in its digital population for more than two decades. According to Statista, over 90% of Americans enjoy internet access, with a significant portion unable to envision life without it.
Furthermore, government initiatives, such as the White House’s distribution of $42 billion among the nation’s 50 states and U.S. territories for universal high-speed broadband access by 2030, underscore the commitment to bridging the digital divide.
Commenting on this, U.S. President Joe Biden said, “It’s the biggest investment in high-speed internet ever. Because for today’s economy to work for everyone, internet access is just as important as electricity, or water, or other basic services.”
In addition, the National Telecommunications and Information Administration (NTIA) within the Department of Commerce disclosed an allocation of almost $50 million to enhance middle-mile high-speed internet infrastructure in New Hampshire, Tennessee, Virginia, and Wyoming.
This development is a significant step in the Biden-Harris Administration’s commitment to providing affordable and dependable high-speed internet access for all Americans, aligning with President Biden’s Investing in America agenda.
In essence, the ongoing developments and investments in the internet industry, both in the United States and globally, highlight the sector’s vitality and potential for continued expansion in the foreseeable future. With that being said…
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