Top 5 Internet Stocks
NEW YORK (TheStreet) -- Citi has initiated coverage on the Internet sector, targeting a wide array of topics and names, from Google
In all, Citi started coverage on 11 names, noting that "the Internet industry is still in the early innings of its growth cycle." Analyst Mark May notes that the sector is poised to see a surge of Internet-centric consumers who are in the prime of their buying and influence stages, primarily driven by the Millennials. As this group continues to gain more influence in the U.S. economy and makes larger and more purchasing decisions, it's poised to shape commerce.
The Internet is also benefiting from the mass adoption of smartphones and tablets, as well as high-speed access, which connects more and more devices, not to mention the "Internet of things."
Citi started coverage on Netflix