FAANG stocks displayed at the Nasdaq.
Adam Jeffery | CNBC
The mega-cap tech stocks that have led much of the record-long bull run have started to lose steam, but investors are still giving them the benefit of the doubt.
The so-called FANG block of tech giants — Facebook, Amazon, Netflix and Google’s parent Alphabet — are still mostly in the red for the trailing 12 months despite their strong year-to-date comeback. Amazon’s single-digit gains in the past 12 months can also be compromised if the e-commerce giant disappoints when reporting earnings next week.
It has become apparent that the backdrop for Big Tech is turning unfavorable from the government crackdown to the U.S.-China trade…