*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)
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Paramount, Maersk, Starbucks, Uber, Lyft and Beyond Meat.
With Donald Trump due on the witness stand next week, testimony from his adult sons in his civil business fraud trial wrapped up Friday with Eric Trump saying he relied completely on accountants and lawyers to assure the accuracy of financial documents key to the case.
DraftKings reported better-than-expected revenue in the third quarter.
Wallet Hub released a list of the 10 states with the highest median monthly student loan payments.
Oil and gas giant BP will purchase electric vehicle chargers from Tesla for $100 million.
