Morgan Stanley says internet companies overvalued, lowers vi

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      Anonymous
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      Technology News

      The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego(Reuters) – Morgan Stanley lowered its industry view on internet stocks to “in-line” from “attractive,” saying growth in the sector needs to accelerate to justify current valuations. Shares of Facebook Inc and LinkedIn Corp have more than doubled in the last one year, and trade 44 and 97 times forward earnings, according to Thomson Reuters data. Google Inc's shares have risen 56 percent in the same period and trade almost 20 times earnings, data showed. Morgan Stanley analysts said the rise in the valuation of internet stocks has been due to investors looking at the total addressable market (TAM) opportunity with minimal focus on risks.


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