FAANG is an acronym representing five of the most prominent and influential tech companies in the United States: Facebook, Apple, Amazon, Netflix, and Alphabet. These companies are considered to be some of the largest and most powerful entities in the tech industry and, by extension, the entire stock market. Each of these companies has shown exceptional growth and innovation, leading to significant influence on the economy and financial markets.
Investing in FAANG stocks essentially means investing in the leading tech giants, each with a unique business model. Facebook and Google dominate digital advertising, Apple has a stronghold on tech hardware and software, Amazon is a leader in e-commerce and cloud services, and Netflix is a significant player in the streaming content industry.
However, like any investment, FAANG stocks come with their own set of risks. Factors like regulatory pressures, market saturation, and competition can impact their performance. Therefore, investors need to understand these factors and their potential impact on FAANG stocks. Despite these risks, FAANG stocks have consistently proven to be resilient and have generated substantial returns for their shareholders over the years. All in all, here are three FAANG stocks for your stock market watchlist today.
FAANG Stocks To Invest In [Or Avoid] Today
- Amazon.com Inc. (NASDAQ: AMZN)
- Apple, Inc. (NASDAQ: AAPL)
- Meta Platforms Inc. (NASDAQ: META)
Amazon (AMZN Stock)
First off, Amazon.com Inc. (AMZN) is one of the world’s most influential e-commerce and cloud computing companies. Today, Amazon is a dominant force in online retail, digital streaming, and artificial intelligence, and it is the leading provider of cloud infrastructure through Amazon Web Services.
Late last month, Amazon recently reported its first quarter of 2023 earnings results. In detail, the company announced earnings of $0.31 per share, with revenue of $127.4 billion. For context, Wall Street’s consensus estimates were earnings of $0.21 per share versus revenue of $124.5 billion. Moreover, revenue advanced by 9.4% compared to the same period, the previous year. Furthermore, Amazon said estimated second-quarter revenue of $127.0 billion to $133.0 billion.
On Thursday morning, shares of AMZN stock are trading higher on the day so far by 1.15%, at $111.44 per share.
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Apple (AAPL Stock)
Next, Apple, Inc. (AAPL) is known for its innovative and high-quality products, Apple is a global leader in consumer electronics and software. Some of its flagship products include the iPhone, the iPad, and the Mac computer. Apple is also involved in services like the App Store, Apple Music, and iCloud.
Just last week, Apple released its financial results for the second quarter of 2023. The tech giant reported per-share earnings of $1.52 and total revenue of $94.8 billion, surpassing analysts’ predictions, which had forecasted earnings of $1.44 per share and revenue of $92.9 billion. Moreover, during the earnings call, Apple projected that the third quarter would see a similar dip in revenue, with estimates landing around $80.88 billion.
Moving along, during Thursday morning’s trading session, Apple stock is trading slightly lower off the open by 0.54% at $172.62 per share.
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Meta Platforms (META Stock)
Last but not least, Meta Platforms Inc. (META) previously known as Facebook Inc., Meta Platforms is a multinational technology company known for its social networking services. The company owns several popular platforms, including Facebook, Instagram, WhatsApp, and Oculus VR.
In late April, Meta Platforms shared its financial results for the first quarter of 2023. Delving into the details, the company outperformed expectations for the quarter. Particularly, Meta reported earnings of $2.64 per share and revenue of $28.6 billion for the first quarter of 2023. This exceeded the predictions of analysts, who had estimated earnings of $1.96 per share and revenue of $27.6 billion.
That said, during Thursday’s mid-morning trading session, META stock is trading up on the day thus far by 1.23% at $236.15 a share.
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