Goldman Sachs Out With 10 Top Tech and Internet Stock Picks for 2023

More than once, the technology and internet world has crashed and burned, and often for far different reasons. The massive dot-com blow-up in 2000 and 2001 was the net result of literally hundreds of companies trading at absurd multiples (if they even had a multiple) based on the premise of how many eyeballs they were capturing, and the Wall Street graveyard remains littered with many of them.

On March 10, 2000, the Nasdaq hit a then all-time high of 5,048. One month later, it had lost 34% of its value. By October 2002, it had lost 78% of its value. It would not reach its previous all-time high again until 2015. Companies like, Webvan, GeoCities,, Ask Jeeves, Alta Vista, Dr. and so many more crashed and burned, and took investors with them.

The implosion of technology in 2022 is far different, as some of the biggest losers this year were some of the biggest winners over the past 10 years. Many continue to print massive profits. A new Goldman Sachs report highlights 11 top stocks that match the company’s 10 tech trends for 2023. All are Buy rated and are top ideas for the coming year. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.


The Google parent and search giant remains a very compelling idea, especially at current trading levels. Alphabet Inc. (NASDAQ: GOOG) provides various products and platforms in North America, Europe, the Middle East, Latin America and elsewhere.

Its Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store, as well as Fitbit wearable devices, Google Nest home products, Pixel phones and other devices, and in the provision of YouTube non-advertising services.

The Google Cloud segment offers infrastructure, platform and other services; Google Workspace that includes cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services.

The Goldman Sachs price target for Alphabet stock is $135, which compares with a $132.15 consensus target. Thursday’s closing print of $91.20 was down over 4% on the day.


This company is very possibly the best value for investors, after taking a harsh beating this year. Inc. (NASDAQ: AMZN) engages in the retail sale of consumer products and subscriptions globally. It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

The company also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings and Echo and other devices. It provides Kindle Direct Publishing, an online service that allows independent authors and publishers to make their books available in the Kindle Store, and it develops and produces media content.

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