Google Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL) are arguably some of the finest stocks in the tech industry with huge potential in terms of growth going forward. These stocks are also much cheaper than the S&P 500 according to Elevation Partners’ managing director, Roger McNamee. The companies have already posted impressive quarterly earnings highlighting their potential as some of the best investment stocks in the industry.
“I think Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Google Inc. (NASDAQ:GOOG) are the obvious places to go. You are going to capture most of what is good in Tech, and you are going to capture the growth rate significantly higher within the economy as a whole and you are paying way below market multiple,” said Mr. McNamee in an interview on Fox Business.
McNamee currently owns stakes in Apple Inc. (NASDAQ:AAPL) but is also looking for the best entry point to further invest in Google Inc. (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN). The analyst also remains bullish on Google Inc. (NASDAQ:GOOG) on the belief that the company is doing well to tap into opportunities that are expected to drive growth in the future. McNamee is also maintaining a keen watch on Amazon.com, Inc. (NASDAQ:AMZN), which reported a 23% increase in sales having just announced that it is set to invest an additional $2 billion to tap into the fast growing e-Commerce market in India.
Mr. McNamee believes Apple Inc. (NASDAQ:AAPL) is one of the cheapest tech stocks in the market with a healthy valuation and a stable product pipeline that has always worked to the company’s advantage. Under the Guidance of, Tim Cook, the company has been expanding steadily, especially in China, where the company continues to gain a substantial amount of market share. Apple Inc. (NASDAQ:AAPL)’s Growth prospects are already looking brighter with the anticipation of iPhone 6 and iWatch.
McNamee believes there is nothing like a bubble in the tech industry as normally propagated by many analysts. He maintains that Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL) and Google are properly valued in the market.
“In the public market the biggest tech stocks Apple Inc. (NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG), Microsoft are all much cheaper than the S&P 500… But then you got the outliers Amazon.com, Inc. (NASDAQ:AMZN), Twitter Inc (NYSE:TWTR), LinkedIn Corp (NYSE:LNKD) they are much-much higher valuation. They do not constitute a bubble,” said Mr. McNamee.
Disclosure: none
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