The five big technology stocks that make up the FAANG collection have drawn some blood from investors during the market volatility in recent weeks, but they are still very much alive.
The FAANG designation refers to Facebook, Amazon, Apple, Netflix and Google (officially Alphabet Inc., but the acronym needed another consonant). It’s a collection of high-performing, technology-oriented stocks. Together these five companies represent over $3 trillion of market value. That’s 13 percent of the market value of the entire S&P 500 stock index. Each of them has outperformed the stock index over the past year.
The FAANG stocks are enormous companies extending well beyond their technology roots. Google’s parent company reports earnings today. Facebook is Wednesday and Amazon is due out Thursday.
Facebook and Amazon, particularly, have had their difficulties recently. Facebook’s privacy practices have come under intense scrutiny; Google wasn’t spared by the stock sell-off a month ago. Amazon and its CEO Jeff Bezos, meantime, have been targeted by presidential tweets.
