Apple Is the Last FAANG Standing. How Its Earnings Could Move the Market.
Apple is the last FAANG standing — and its earnings report this coming week could go a long way toward determining if the stock market bounces back or slides even further.
Apple is the last FAANG standing — and its earnings report this coming week could go a long way toward determining if the stock market bounces back or slides even further. In every year since 2014, those six stocks have added more to the S&P 500’s returns than their weight in the index would imply, according to Bespoke Investment Group data. They’ve also contributed more to the market’s gains than the rest of the stock market combined in three out of those eight years.
That’s changed in 2022, with Meta, Amazon, Netflix, Microsoft, Apple, and Alphabet accounting for 3.9%, or about half, of the S&P 500’s 7.8% decline through Thursday’s close.
As bad as this year has been for the stock market, it’s been even worse for the original FAANGs. While the S&P 500 has fallen 10.4% in 2022, Facebook parent Meta Platforms (ticker: FB) has slumped 45.3%, Amazon.com (AMZN) has dropped 13.4%, Netflix (NFLX) has tumbled 64.2%, and Google parent Alphabet (GOOGL) has fallen 17.4%.
The expanded FAANMGs haven’t done much better, with Microsoft (MSFT) falling 18.5%, and only Apple (AAPL) — down 8.9% in 2022—outperforming the S&P 500.
Fed Lifts Interest Rates and Will Wind Down $9 Trillion Balance Sheet Assets to Tackle High U.S. inflation
The Federal Reserve on Wednesday raised a key interest rate by a half point and reaffirmed a more aggressive strategy to try to subdue the worst outbreak of U.S. inflation in 40 years.
Germany Will Support Russian Oil Embargo After Significantly Reducing Dependence: Report
According to Fox, Germany will support the European embargo of Russian oil, marking another significant turnaround in the nation’s position on the Russia-Ukraine conflict.
Ford Just Reported a $3.1 Billion Loss. Blame Sliding Demand, Strong Dollar and… Rivian
New York(CNN Business) In the days after its November IPO, electric truck maker Rivian was briefly one of the world's most valuable automakers despite not yet having reported a single sale.
