Meta was the outperformer, gaining 9.3% in March, while on the other hand, Netflix continued to underperform, declining 3% in the month, largely due to a continued negative effect from poor 4QFY2021 earnings.
PhillipCapital’s Jonathan Woo and Timothy Ang have maintained their “overweight” call on the FAANGM sector. FAANGM refers to Facebook (now Meta Platforms), Amazon, Apple, Netflix, Google (now Alphabet) and Microsoft.
Woo and Ang say that the FAANGM sector gained 5.9% in March, beating out the S&P 500’s figure of 5.2%.
