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Momentum stocks to buy on the selloff: Bob Peck

High-flying Internet stocks were among the hardest hit names in Tuesday's session, but according to SunTrust Robinson Humphrey Managing Director Bob Peck, the pullback is a golden opportunity to load up on a few select plays.

On CNBC's "Fast Money," Peck named Amazon as his first stock to buy at current levels.

According to Peck, Amazon's new Fire phone could be a sizable contributor to top line growth. Peck estimated that Amazon could sell up to 1 million phones, which, at $600 per unit, would be "about a 3 percent increase" to third-quarter revenues. Amazon dropped around 3 percent in Tuesday's session.

Peck's second pick was Facebook, which fell nearly 4 percent.

Peck, who has a "buy" rating and a $70 price target on the stock, said that Facebook is setting up to have a strong quarter.

"You're seeing growth north of 70 percent, incremental margins around 80 percent; the core continues to chug away," he said.

Lastly, Peck said that he'd be a buyer of Google, which sold off around 2 percent.

"I always look for franchises on pullbacks," he said, adding that Google remains "one of the best business models out there on the Internet."

Read MoreStocks to buy and sell at record highs

Peck also addressed a report out Tuesday claiming that YouTube's revenues were far below analyst estimates.

"It came from a blog source … they don't break the information out, so we may never truly know," he said.

Disclosures: Bob Peck does not hold a position in shares of Amazon, Twitter or Facebook. SunTrust makes a market in Facebook stock and has received compensation for financial services from Amazon.com; it has no relationship with or stake in Twitter.

By CNBC's Michael Newberg

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