Analyst Jonathan Woo highlights that the FAANGM grouping declined 14.9% in April, worse than Nasdaq’s drop of 13.4% and the S&P 500 drop of 8.8%.
PhillipCapital has maintained its “overweight” call on the FAANGM sector even as the group of six companies saw a selloff that was worse than the Nasdaq and S&P500 indices.
FAANGM refers to the companies of Facebook, Apple, Amazon, Netflix, Google and Microsoft, although Facebook is now known as Meta, and Google now trades under parent company Alphabet.
