*By Lauren Babbage*
Trade war concerns have been plaguing the markets for weeks, but until recently the FAANG stocks were largely immune. But that might be about to change.
The big tech companies ー Facebook, Apple, Amazon, Netflix, and Google parent Alphabet ー were unable to recoup losses on Tuesday after seeing precipitous falls to start the week. Netflix alone was down almost 6 percent Monday, its biggest percentage loss in nearly two years.
That came after President Donald Trump said early in the week that he was considering restricting Chinese investments in U.S. companies. On Tuesday, though, he would ease off those toughened rules.
But Trump's position on trade has been known to vacillate, and if his ultimate stance does target technology companies directly Jason Ware, chief investment officer at Albion Financial Group, told Cheddar FAANG stocks will likely take a hit.
Apple, in particular, could be affected. China represented nearly 20% of the iPhone maker's revenue in 2017 and is a major source of components and manufacturing for the company.
But will any sell-off last? Ware doesn't necessarily think so.
"I think it's difficult to paint a picture that they are overvalued. In fact, we think they are undervalued relative to their growth and relative to the low-interest, low-inflation environment," he said.
Shares of Facebook, Amazon, Netflix, and Google all hit all-time highs last week.
For the full segment, [click here.](https://cheddar.com/videos/will-faang-stocks-continue-to-beat-market-slumps)
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Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
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Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
