Mark Zuckerberg, founder and chief executive officer of Facebook Inc., smiles during a news conference at the company's headquarters in Palo Alto, California, U.S., on Wednesday, Oct. 6, 2010.

2019 was a great year for internet stocks and many Wall Street analysts expect the good times to continue in 2020.

The S&P 500 finished 2019 up 28.9% in large part because of the so-called FAANG stocks, which include top internet names like Facebook and Amazon. Facebook ended the year up 56.6% while Amazon jumped 23%.

Analysts told clients this week there's more to come from those companies as well as some others including Shopify, Zillow, Alphabet, Netflix, and Alibaba.

After yet another record setting holiday season, Amazon continues to be one stock all investors must own according to Argus.

"Third-party sellers posted record-breaking results, as worldwide unit sales grew at a double-digit pace from the prior year and surpassed a billion items sold," analyst Jim Kelleher said.

Early data shows the "Amazon ecosystem displayed strength across numerous metrics," he said.

The firm also said the stock's valuation was attractive now after what it said was "relative underperformance" in 2019.

"We believe that AMZN warrants long-term accumulation in most equity accounts," he said.

2019 may come to be known as the year that the streaming wars began with the debut of Disney+ and Apple TV+ but don't give up on Netflix just yet RBC says.

The firm released its "Internet Surprises for 2020" this week and said that while the competition for viewers is real it believes Netflix could actually see subscriber additions "accelerate," this year.

"In the U.S., Netflix in 2020 will be comping against a material price increase and a dramatic slowdown in its marketing spend, and Netflix should benefit from an accelerating decline in Linear Paid TV Subs," analyst Mark Mahaney said.

"This would indeed be a surprise," he said.

Shares of Netflix ended 2019 up 21%.

Regulatory scrutiny continues to be a hot topic for internet stocks like Alphabet especially with the 2020 election season underway.

But one analyst urged clients to stand strong and said all the talk is bluster.

"Although we expect the anti-trust rhetoric to reach deafening levels ahead of the U.S. Presidential election this year, we are not afraid of a potential breakup of Alphabet," Monness, Crespi, Hardt & Co. analyst Brian White said.

Besides, the firm said Alphabet may actually be worth more in a break-up.

"In our view, investors would likely value the sum of Alphabet's businesses at a higher level than the company as a single, standalone business," the analyst said.

""We continue to believe Alphabet is undervalued for its growth prospects, leadership position in digital advertising and cash-rich balance sheet," he said.

Shares of the company ended 2019 up 28%.

Here's what else analysts are saying about internet stocks in 2020: