互联网_进入每股收益季，当前交易位置如何-Internet_ Where Are We Trading Now_ As We Enter EPS

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the Internet industry in North America and discusses the performance of various internet companies as they approach earnings per share (EPS) announcements [1][2]. Market Performance - Internet stocks rose by 3% last week, outperforming the S&P 500 (SPX) and Nasdaq 100 (NDX), which increased by 2% each [1][2]. - Notable performers included: - GOOGL: +7% - PINS: +7% - ABNB: +7% - APP: +5% - RBLX: +5% - Z (Zillow Pro): +5% - Conversely, AMZN and META saw declines of 2% and 2%, respectively [1][2]. Valuation Metrics - The forward price-to-earnings (P/E) ratios for major companies are as follows: - AMZN: 26x - GOOGL: 24x - META: 21x - These figures represent changes of -12%, +25%, and -9% compared to the trailing twelve months (TTM) average [1][2]. Company-Specific Insights - GOOGL and META are highlighted for their significant market capitalizations of $3,089,753 million and $1,842,472 million, respectively [6]. - AMZN has a market cap of $2,302,110 million, but its stock performance has been negative recently, with a -1.5% change over the past week [6]. Sector Analysis - The Digital Ads sector saw mixed performance: - GOOGL: +7.1% - META: +1.6% - SNAP: -1.7% - PINS: +6.5% [6]. - The E-Commerce sector experienced an overall decline of -1.4%, with AMZN and CHWY both showing negative performance [6]. Investment Outlook - The overall industry view is considered attractive, indicating potential investment opportunities in the internet sector [2]. Additional Insights - The report includes detailed financial metrics for various companies, including EV/Revenue, EV/GP, and EV/EBITDA ratios, which provide insights into their financial health and market positioning [5]. - The Travel sector, represented by companies like ABNB and BKNG, shows a market-cap weighted average performance of 1.1% [6]. Conclusion - The conference call provides a comprehensive overview of the current state of the internet industry, highlighting key performers, valuation metrics, and sector-specific insights, which can guide investment decisions moving forward [1][2][5].