By Sam Boughedda
Publication Date: 2026-03-30 12:40:00
Investing.com – A selloff driven in part by fears of artificial intelligence disintermediation has pushed internet valuations to lows, but analysts at Jefferies believe the pessimism has gone too far.
Analyst John Colantuoni argues that “recent developments suggest the internet is becoming an AI profiteer, turning the recent sell-off into a buying opportunity.”
Internet stocks have fallen about 30% this year and are now trading at a “record 30% discount to the S&P500,” Jefferies said, pointing out that metrics are also “70% below their highs of 22.”
As evidence that major internet platforms will ultimately benefit rather than be pushed out, the company cites several changes, such as OpenAI’s move away from consumer-facing products and scaling back its direct checkout ambitions, as well as Google’s commitment to remain a referral source.
With that in mind, Jefferies upgraded Expedia Group to Buy, highlighting what it called an “underrated EPS algorithm.”
The Company…
