FAANG stocks refer to some of the most popular tech stocks in the stock market today. They have become a staple in many investment portfolios due to their impressive track records and strong performance over time. These five companies are often looked upon as market leaders because of their large market capitalization values and high stock prices.
Additionally, they have some of the most recognizable brands in the world. This means that investors can count on them to maintain strong consumer loyalty. Moreover, these companies have consistently returned higher returns than the S&P 500 index over time. This makes them attractive investments for investors looking for long-term growth potential. Considering this, here are three FAANG stocks to check out before 2023.
FAANG Stocks To Watch Now
- Amazon.com, Inc. (NASDAQ: AMZN)
- Netflix Inc. (NASDAQ: NFLX)
- Alphabet Inc. (NASDAQ: GOOGL)
Amazon (AMZN Stock)
First up, Amazon (AMZN) is a multinational technology company based in the United States. The company focuses on e-commerce, cloud computing, and artificial intelligence. Amazon also offers a range of other products and services, including electronics, books, music, movies, and more. In addition to its online retail operations, Amazon has also ventured into various other businesses. Such as grocery delivery, streaming video and music, and the development of consumer technology products.
In December the company reported that AWS has been chosen as the preferred public cloud provider for Yahoo’s advertising technology business, Yahoo Ad Tech. This is part of its ongoing digital transformation strategy. With that, Yahoo Ad Tech will be moving all of its advertising technology workloads, including media-buying and supply-side platforms, analytics, and identity solutions and products, from on-premises data centers to AWS. This move is intended to reduce IT infrastructure costs, improve advertising business operations, and create more personalized and immersive solutions. In an effort to assist brands in connecting with their audiences.
In the last month of trading action, shares of AMZN stock have dropped another 11.47%. Moving along, as of Thursday’s early morning trading session, Amazon stock is trading at $82.55 a share.
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Netflix (NFLX Stock)
Next, Netflix (NFLX) is a media-services provider and production company based in the United States. It is known for its subscription-based streaming service. Which allows users to watch a variety of TV shows, movies, and other video content on internet-connected devices. In addition to its streaming service, Netflix also produces and distributes its own original content.
This month, Netflix announced that it will be releasing its financial results for the fourth quarter of 2022 on January 19, 2023, at 1:00 PM Pacific Time on its investor relations website. The company will also provide a brief advisory release containing a link to the financial results and a letter to shareholders on its website. For a refresher, during Q3 2022 Netflix reported an EPS of $3.10 per share and revenue of $7.9 billion for the quarter.
Over the last month of trading action, shares of NFLX stock are down 1.45%. Meanwhile, as of Thursday’s pre-market trading session, Netflix stock is trading at $278.89 a share.
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Alphabet (GOOGL Stock)
Last but not least, Alphabet (GOOGL) is a multinational conglomerate based in the United States that was created in 2015 as a holding company for Google and its various subsidiaries. Alphabet is the parent company of Google, and its subsidiaries include several businesses in various industries, such as life sciences, healthcare, and technology.
Back in October, Alphabet reported its third-quarter 2022 financial results. Diving in, Alphabet reported Q3 2022 earnings of $1.06 per share along with revenue of $69.1 billion. For clarity, this is compared to Wall Street’s consensus estimates for the 3rd quarter of 2022 which were earnings of $1.25 a share, and revenue estimates of $pence $71.0 billion. This is versus the Street’s consensus estimates for the quarter, which was an EPS of $1.25, and revenue estimates of $71.0 billion.
Over the last month of trading, shares of GOOGL stock have fallen another 9.63%. Meanwhile, during Thursday’s pre-market trading action Alphabet stock is trading at $86.36 a share.
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