Expedia: At 10x Price To Free Cash Flow, I'm Not Afraid Of AI

2026-03-02 21:28:03 ET

Since the start of the year, Expedia ( EXPE ) and Booking ( BKNG ), the two biggest companies in the online travel agency ((OTA)) sector, have seen their stock price decline by close to 25%. AI fears are everywhere, and OTAs are some of the latest victims of this panic. It's tough for investors to differentiate which industry is really being disrupted by AI and what is just noise. My belief at the moment is that OTAs are victims of pure noise, which presents opportunities for contrarian investors....

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