Many have been calling for the death of FANG Stocks. As you know we’ve been bulls. Amazon and Netflix are hitting new highs taking our FANG Stock Index to new all-time highs. Facebook is threatening to hit new highs and we think Google’s not far behind.
What’s your guess what this means for the rest of tech? We think it’s good. If the leaders are leading us to new highs the followers can follow. Let’s review.
FANG Stocks Dead?
Jim Cramer crowned the name FANG and seemed to be giving up hope.
Earnings Driven New Highs
What we love about these new highs are that they are earnings driven. Netflix, Amazon and Facebook were up big after they reported earnings thanks to accelerating numbers. That means institutional investors saw the fundamentals as that much better. Google was the only stock that traded down but made up its losses in twelve trading days.
We have 85% 12 month upside left for Netflix, 50% upside for Amazon, 66% upside for Google and way too much upside for Facebook.
If the tech leading FANG stocks are taking us to new highs what happens to the followers? We think our FANG Stock Index hitting new highs tells you the markets and the rest of tech are not far behind.
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