The last thing most investors were expecting was a monster sell-off, the largest on the first trading day in 15 years, to welcome in the new trading year. What it does for investors with some dry powder is possibly provide the best entry point to stocks since the correction we saw last August and September.
A new research report from SunTrust Robinson Humphrey makes the case for two of the FANG stocks (Facebook, Amazon, Netflix and Google), plus a very contrarian third pick that could hold big upside for investors willing to be patient. All are rated Buy at SunTrust.
Alphabet
The technology giant is the top pick at many firms we cover on Wall Street for 2016. Alphabet Inc. (NASDAQ: GOOGL), better known as Google, recently introduced Android Pay, a revamped photos and a lightweight Android derivative operating system they call Brillo, which is designed to power the Internet of Things. The company released a new mobile version for the Android OS last fall.
Google remains the undisputed leader in Internet search, and when you add in a diverse portfolio that includes everything from the Android platform, to YouTube, Google Wallet for automatic pay and the Google Flights tool, continued growth is not out of the question. YouTube watch time accelerated a massive 60% year over year, and the average view session was up 50% to 40 minutes. The YouTube surge represented the best growth in two years. The SunTrust team notes that company has six separate properties reaching a billion users.
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