Last but not least is the granddaddy of them all, Facebook. Love it or hate it, they are making money, and have a boat load -- nearly $9.5 billion in cash and short-term investments on the balance sheet. The forward earnings estimates have the stock trading at 33 times the 2014 consensus, which is not a crazy valuation, assuming they can actually hit the consensus estimate.

The question here though, is whether there is "Facebook fatigue" happening among users, and in the end, whether this is all just a fad. While $9.5 billion in cash and securities is real, I'm not sure this company is worth its $62 billion market cap. Time will tell. Are any other Facebook users tired of seeing what little Bobby ate for breakfast that day?

FB Chart FB data by YCharts

What do I know? I'm just a simple value investor.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Jonathan Heller, CFA, is president of KEJ Financial Advisors, his fee-only financial planning company. Jon spent 17 years at Bloomberg Financial Markets in various roles, from 1989 until 2005. He ran Bloomberg's Equity Fundamental Research Department from 1994 until 1998, when he assumed responsibility for Bloomberg's Equity Data Research Department. In 2001, he joined Bloomberg's Publishing group as senior markets editor and writer for Bloomberg Personal Finance Magazine, and an associate editor and contributor for Bloomberg Markets Magazine. In 2005, he joined SEI Investments as director of investment communications within SEI's Investment Management Unit.

Jon is also the founder of the Cheap Stocks Web site, a site dedicated to deep-value investing. He has an undergraduate degree from Grove City College and an MBA from Rider University, where he has also served on the adjunct faculty; he is also a CFA charter holder.

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