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Opinion: It’s all over for the FAANG stocks – MarketWatch

June 12
15:09 2017

They don’t ring a bell at the top of the market, the old Wall Street saying goes, but last Friday you could hear a crack as big as the one on the Liberty Bell next to Independence Hall.

That was when the market’s highest flyers, the so-called FAANG stocks — FacebookFB, -1.22% Amazon.com AMZN, -1.12% Apple AAPL, -2.37% Netflix NFLX, -3.60% and Alphabet (Google) GOOG, -1.17% GOOGL, -1.24%   — all closed down 3% or more on huge volume.

Since the “Trump rally” faded in March, energy, financial, and industrial stocks, which Wall Street dubbed the likeliest winners from President Trump’s supposedly “pro-growth” policies, passed the baton back to the previous leaders—the FANGS, plus Apple, which got a second wind this year.

Those stocks, which ruled last year’s “Hillary Clinton stock market,” sucked all the oxygen out of the room because they were posting huge revenue and earnings growth in a slow-growing economy.

Over the past four years, Facebook soared 544%, Amazon surged 268%, Apple gained 170%, Netflix advanced 441%, and Alphabet rose 124%. They have beaten the Nasdaq Composite COMP, -0.66%  up 84% during that time) and the S&P 500 SPX, -0.23%   (up 50%) to a bloody pulp.

Continue Reading At MarketWatch

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