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3 FAANG Stocks For Your May 2023 Watchlist

FAANG stocks to watch in the stock market today.

FAANG is an acronym representing five of the most prominent and influential tech companies in the United States: Facebook, Apple, Amazon, Netflix, and Alphabet. These companies are considered to be some of the largest and most powerful entities in the tech industry and, by extension, the entire stock market. Each of these companies has shown exceptional growth and innovation, leading to significant influence on the economy and financial markets.

Investing in FAANG stocks essentially means investing in the leading tech giants, each with a unique business model. Facebook and Google dominate digital advertising, Apple has a stronghold on tech hardware and software, Amazon is a leader in e-commerce and cloud services, and Netflix is a significant player in the streaming content industry.

However, like any investment, FAANG stocks come with their own set of risks. Factors like regulatory pressures, market saturation, and competition can impact their performance. Therefore, investors need to understand these factors and their potential impact on FAANG stocks. Despite these risks, FAANG stocks have consistently proven to be resilient and have generated substantial returns for their shareholders over the years. All in all, here are three FAANG stocks for your stock market watchlist today.

FAANG Stocks To Invest In [Or Avoid] Today

Amazon (AMZN Stock)

First off, Amazon.com Inc. (AMZN) is one of the world’s most influential e-commerce and cloud computing companies. Today, Amazon is a dominant force in online retail, digital streaming, and artificial intelligence, and it is the leading provider of cloud infrastructure through Amazon Web Services.

Late last month, Amazon recently reported its first quarter of 2023 earnings results. In detail, the company announced earnings of $0.31 per share, with revenue of $127.4 billion. For context, Wall Street’s consensus estimates were earnings of $0.21 per share versus revenue of $124.5 billion. Moreover, revenue advanced by 9.4% compared to the same period, the previous year. Furthermore, Amazon said estimated second-quarter revenue of $127.0 billion to $133.0 billion.

On Thursday morning, shares of AMZN stock are trading higher on the day so far by 1.15%, at $111.44 per share.

Source: TD Ameritrade TOS

[Read More] 3 Semiconductor Stocks To Watch In May 2023

Apple (AAPL Stock)

Next, Apple, Inc. (AAPL) is known for its innovative and high-quality products, Apple is a global leader in consumer electronics and software. Some of its flagship products include the iPhone, the iPad, and the Mac computer. Apple is also involved in services like the App Store, Apple Music, and iCloud.

Just last week, Apple released its financial results for the second quarter of 2023. The tech giant reported per-share earnings of $1.52 and total revenue of $94.8 billion, surpassing analysts’ predictions, which had forecasted earnings of $1.44 per share and revenue of $92.9 billion. Moreover, during the earnings call, Apple projected that the third quarter would see a similar dip in revenue, with estimates landing around $80.88 billion.

Moving along, during Thursday morning’s trading session, Apple stock is trading slightly lower off the open by 0.54% at $172.62 per share.

Source: TD Ameritrade TOS

[Read More] 3 Cyclical Stocks To Watch In May 2023

Meta Platforms (META Stock)

Last but not least, Meta Platforms Inc. (META) previously known as Facebook Inc., Meta Platforms is a multinational technology company known for its social networking services. The company owns several popular platforms, including Facebook, Instagram, WhatsApp, and Oculus VR.

In late April, Meta Platforms shared its financial results for the first quarter of 2023. Delving into the details, the company outperformed expectations for the quarter. Particularly, Meta reported earnings of $2.64 per share and revenue of $28.6 billion for the first quarter of 2023. This exceeded the predictions of analysts, who had estimated earnings of $1.96 per share and revenue of $27.6 billion.

That said, during Thursday’s mid-morning trading session, META stock is trading up on the day thus far by 1.23% at $236.15 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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