Meta and Amazon are trading at 3-year trough multiples
Evercore ISI’s head of internet research named Meta Platforms and Amazon as top buys.
The two companies are trading at 3-year trough multiples.
Every Magnificent 7 name has trailed the S&P 500 over the past month, with Meta falling 4.13% and Amazon dropping 5.76%.
The analyst cited capex peaking and free cash flow turning positive as catalysts.