
FAANG Stocks in 2021: Which Stock to Buy and Which to Offload
Despite the economic hardship brought about by the coronavirus pandemic in 2020, FAANG stocks outperformed in comparison to the broader S&P 500 Index which grew by 16% in the past year.
Despite the economic hardship brought about by the coronavirus pandemic in 2020, FAANG stocks outperformed in comparison to the broader S&P 500 Index which grew by 16% in the past year.
In 2021, analysts are mostly betting on coronavirus vaccine stocks. Besides, they believe in Tesla that advanced 743%, Nvidia which climbed almost 122%, and PayPal that gained 116.5%.
There are lots of factors that can drive FAANG and other tech shares in 2021. The most interesting of them include developments in gaming, cybersecurity, 5G, edge computing, and data analytics.
At present, all eyes are on coronavirus vaccine stocks. As a result, FAANG stocks are in the middle distance. However, this is temporary. According to Cramer, when the pandemic is over, it all will get back to normal.
In March, when the coronavirus pandemic was most widely unwrapping, some experts said it was time to buy FAANG stocks. And as we see now, they were right.
As Amazon predicts, its Q1 2020 net sales will rise by a range of 16% and 22% to hit $73 billion. In addition, the company has boasted more members already joined its subscription program. AMZN stock is rising in the pre-market.
The Stock Market has responded positively to Trump’s hint at a possible resolution to the trade war with China. There were modest gains which seem to be unaffected by the current impeachment proceedings against Trump.
On Thursday, two of Facebook’s top-level executives had put their papers down. This hasn’t gone unnoticed as the company’s stock lost 3%.