With renewed social distancing mandates amid the rapid spread of the COVID-19 Delta variant, and accelerated digital transformation, the internet industry is one of the best investment avenues. Thus, betting on fundamentally sound internet stocks CarGurus (NASDAQ:CARG) and Blucora (NASDAQ:BCOR) we think could reap attractive returns soon. Read on to learn more.As the resurgence of COVID-19 cases globally leads to the reimposition of lockdowns and social distancing mandates, the internet industry is gaining traction. As the rapid spread of the Delta variant has pushed the number of infected people and hospitalizations to a six-month high in the United States, internet-based platform providers are well-positioned to benefit from the resumption of increased remote activities. The continued digital transformation of almost all industries has also fed into optimistic investor sentiment regarding the internet industry.
Given the increasing reliance on technology, the recently approved $1 trillion bipartisan infrastructure bill has allocated approximately $75 billion to the internet industry. Furthermore, the government plans to invest heavily in technology segments, such as broadband, cybersecurity, and electric vehicles. The global internet services market is expected to grow at a 15.4% CAGR over the next five years to hit $1.40 trillion by 2026.
Thus, if one plans to invest $2,500 right now, we think betting on fundamentally sound internet stocks CarGurus, Inc. (CARG) and Blucora, Inc. (BCOR) could be rewarding. These companies’ robust growth prospects should help their shares deliver substantial returns in the coming months.