When the stock market swooned in January, there were plenty of bearish calls about the so-called FAANGs.
This is market shorthand for some very high-powered Internet plays–as in Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL).
In my view, tech investors have certainly had a tougher time in 2018, compared to the non-stop meteoric gains last year.
Facebook experienced a short sell-off several weeks back over what critics say was lax data security during the 2016 presidential cycle.
Apple, meanwhile, also reported robust earnings and an $100 billion stock buyback program. Its stock shot up nearly 13% during five days of trading.
The explosive growth at Netflix has sent the content streaming company’s share soaring this year, up 65% as of May 4.
Amazon shares have advanced 35% on the year over the same time period.
Tesla aside, the so-called FAANG-plus stocks showcased by Bespoke are performing pretty well.
In these volatile times, tech stocks seem to continue to mesmerize plenty of investors.
- Xavier Brenner has covered global market, business and economic trends for Interactive Brokers Asset Management since 2013. An experienced financial journalist, Brenner offers analysis and insights on the stories that matter to the discerning investor.