Big Tech’s FAANGs Leading the Market Higher
$FB, $AAPL, $AMZN, $NFLX, $GOOG
- The FAANG stocks have set another record.
As earnings season comes to a close, the big technology stocks are making up a bigger piece of the action than ever before.
The FAANG block of Facebook Inc.(NASDAQ:FB), Amazon.com Inc.(NASDAQ:AMZN), Apple Inc.(NASDAQ:AAPL), Netflix Inc. (NASDAQ:NFLX) and Google (NASDAQ:GOOG) now account for over 27% of the NAS Comp, an all-time high.
Friday’s big tech spike comes on the back of Apple’s better-than-expected earnings plus news of Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) recent purchase of shares in the iPhone maker.
Have a terrific weekend.
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Paul Ebeling
Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.
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