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Internet users are growing at a 4.8% annual rate, amounting to an average of more than 600,000 new users each day. Currently, 62% of the world’s population uses the internet, and Cybersecurity Ventures predicts that there will be more than 7.5 billion internet users by 2030, representing approximately 90% of the projected world population. In addition, Biden Administration proposed spending will boost the internet services’ growth prospects by allocating $65 billion from its bipartisan infrastructure bill for the expansion of broadband access.
Given the bullish market sentiment and favorable industry trends, we think betting on fundamentally sound internet stocks Ziff Davis, Inc. (ZD), Shutterstock, Inc. (SSTK), and Perion Network Ltd. (PERI) could be rewarding.
