From CNBC, Internet stocks have been on fire during the last year, but the sector may be bracing for a pullback. Morgan Stanley downgraded the Internet sector to in-line from attractive on Monday, citing high valuations.Internet companies'-including Google, Amazon and Facebook-valuations are too high relative to their long-term growth prospects, Morgan Stanley analysts said. There is a graphic on the following link showing how the tech majors have performed over the past year (VIEW LINK)
I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.