The biggest business news story of the past week was NVIDIA. The designer of some of the world’s most cutting edge semiconductors and graphics cards has been an incredible investment over the past decade (split adjusted, going from $3 to $389 in since 2013). The company almost reached $1 trillion in value last week after it released its quarterly earnings and forecast incredible profit growth in quarters to come.
With that story dominating the headlines, it felt like the right time to share this article from Global X unpacking the FANG+ stocks.
FANG+ is the catch all term used for the biggest of American technology companies – Apple, Microsoft, Amazon, NVIDIA, Meta, Tesla, Alphabet, AMD and Netflix. These have been the companies driving the stock market higher this year. Together, this basket of stocks are up 39% in 2023 so far. The rest of the S&P 500 is up just 2%.
But can these megacap companies sustain this growth? Or is this a moment of hope before they continue their 2022 falls?
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