Fundamentals of Leading Internet Businesses 'Have Never been Stronger,' RBC's Mahaney Says - TheStreet

NEW YORK (TheStreet) --RBC Capital Markets top tech analyst Mark Mahaney believes the leading companies in the tech sector have never been stronger. He explained his rationale during Friday morning's "Squawk Alley" on CNBC

"The fundamentals of the leading companies in the Internet space have never been stronger. Amazon's (AMZN) - Get Report fundamentals are the strongest I've seen in the 20 years I've been following the company. That's the same probably with Google (GOOGL)," Mahaney said.

The trends with these large caps, leading tech companies are not only consistent but strengthening, he noted.

"These are consumer-facing companies, Amazon, Google, Facebook (FB), so what we see in major trends in the consumers are going to affect these names much more than what happens with enterprises," Mahaney explained.

Moreover, December from a fundamentals standpoint with these leading names is "almost always the strongest quarter," he added.

Shares of Alphabet, Amazon, and Facebook were all higher in late morning trading on Friday.

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