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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.
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."
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