Stock Groups

The 2 FAANG Stocks Underperforming the S&P 500 Year to Date By StockNews

© Reuters. The 2 FAANG Stocks Underperforming the S&P 500 Year to Date

Although the stock market has been able to hold on to steady gains so far this year, FAANG components Apple (AAPL) and (AMZN) have failed to perform consistent with the market trend. These stocks have underperformed the S&P 500 year-to-date owing in part to President Biden’s executive order that cracks down on anti-competitive practices by tech giants. Keep reading. FAANG stocks include some of the best-known American technology companies. The outstanding market strategies of these companies and their market dominance have helped them rise to unprecedented market-cap heights. They represent approximately 19% of the S&P 500 index and have a substantial influence over the movement of the benchmark index.

However, FAANG stocks Apple Inc. (NASDAQ:) and Inc. (NASDAQ:) have underperformed the S&P 500 since early January.

A growing investor distrust over Fed’s policy meeting has led to the stock market having a chaotic start this week. It also increased the sector’s stress and forced these companies into retreat. Also, the Biden administration’s executive order aimed at increasing the scrutiny of big tech firms for their anti-competitive practices could put further pressure on the FAANG stocks.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. Instead, they are provided by market makers. Because prices might not reflect the market, but are indicative, these prices cannot be used to trade. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of the potential risks and financial costs involved in trading the financial market. It is one the most risky forms of investment.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.