Are These The Best FAANG Stocks To Invest In This Week?
While investors check whether stocks trade on President’s Day (they don’t), several headwinds continue to weigh in on the stock market. With the broader market on the decline, investors may be considering FAANG stocks now. For one thing, the FAANG companies are, arguably, among the leading names in the tech world today. The acronym originally stands for Facebook currently known as Meta, Amazon, Apple, Netflix, and Google. More importantly, shares of these growth goliaths continue to decline year-to-date following news of the Ukraine-Russia tensions and fast-approaching interest rate hikes. Despite all of this, some investors could see these growth-focused names trading at more attractive prices now.
At the same time, the likes of Alphabet (NASDAQ: GOOGL) continue to power forward regardless of market headwinds. Recall the company’s latest quarterly earnings beat. Earlier this month, Alphabet smashed consensus earnings estimates in its fourth-quarter earnings call. The company raked in earnings of $30.69 per share on revenue of $75.33 billion. Notably, this is well above the forecasts of $27.34 and $72.17 billion respectively. Moreover, both of its core advertising and cloud computing divisions posted year-over-year revenue jumps of over 30%. Elsewhere, other tech firms of similar scale such as Microsoft (NASDAQ: MSFT) continue to expand their operations as well. After considering all this, could one of these FAANG stocks be worth noting in the stock market this week?
4 FAANG Stocks For Your March 2022 Watchlist
- Meta Platforms Inc. (NASDAQ: FB)
- Amazon.com Inc. (NASDAQ: AMZN)
- Apple Inc. (NASDAQ: AAPL)
- Netflix Inc. (NASDAQ: NFLX)
Meta Platforms Inc.
Meta Platforms or formerly Facebook is a multinational technology company that is the parent company of Facebook, Instagram, and WhatsApp among others. In essence, the company builds technologies that help people connect and businesses grow. Accordingly, its apps are used by billions all over the world. Not resting on its laurels, the company continues to expand beyond 2D screens toward immersive experiences like augmented and virtual reality. On February 2, 2022, the company reported its fourth-quarter and full-year 2021 financial results.
Diving in, the company posted a total revenue of $33.67 billion for the quarter, increasing by 20% year-over-year. It also reported a net income of $10.28 billion or a diluted earnings per share of $3.67. The company also says that its daily active users were 1.93 billion for December 2021, an increase of 5% year-over-year. It also repurchased $19.18 billion of shares during the quarter and also ended the year with $48 billion in cash and cash equivalents. For 2022, the company also expects a total revenue for the first quarter to be in the range of $27-29 billion, which represents a 3-11% year-over-year growth. Given this piece of news, is FB stock worth investing in right now?
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Following that, we have Amazon, another tech titan that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The company is also one of the world’s most valuable brands. Its gaming division is called Amazon Games and its team of game industry veterans continues building within the sandbox of Prime Gaming, twitch, and Amazon Web Services. Amazon Games also develops AAA multiplayer games based on original IPs, like New World.
More recently, it also published Lost Ark and launched it on Steam for players all around the globe. Impressively, it has comfortably passed 1 million concurrent players after just 24 hours, becoming one of the most played games in Steam history by concurrent counts. “Together with Smilegate, we are proud to usher in millions of new players around the world to experience Lost Ark,” said Christoph Hartmann, VP, Amazon Games. “Lost Ark’s unique style of action-packed combat coupled with seemingly endless class customization options opens up nearly infinite new ways to play in a dynamic, ever-changing online universe—there are numerous new realms to discover and resources to compete for in this living fantasy world.” All things considered, is AMZN stock worth adding to your portfolio?
Apple is a FAANG stock that specializes in consumer electronics, software, and tech services. It is one of the largest information technology companies in the world by revenue. Its services like App Store and Apple TV+ are used by billions all over the world. AAPL has enjoyed gains of over 30% in the past year alone. In late January, the company reported yet another record quarter.
Firstly, it posted an all-time revenue record of $123.9 billion, up 11% year-over-year. A chunk of this revenue came from the sales of its products. It also posted an earnings per share of $2.11 for the quarter and ended the quarter with total current assets of over $150 billion. It also saw a very strong customer response to its new products and services. This also led to double-digit growth in revenue and earnings and also helped set an all-time high for its installed base of active devices. Apple also says that it continues to make progress toward its goal of becoming carbon neutral across its supply chain and products by 2030. For these reasons, would AAPL stock make your list of top FAANG stocks to buy?
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Topping off our list today is Netflix. Throughout the pandemic, consumers across the board turned towards the video streaming giant’s services. For the most part, the firm has and continues to churn out top-quality award-winning content. Among the more recent additions would be Netflix’s upcoming release of the fourth season of Stranger Things, its pop culture hit series. However, the competition seems to be ramping up from names like Disney (NYSE: DIS) and Roku (NASDAQ: ROKU). The real question here is whether the streaming giant could fend off its competition over the long run.
To put things into perspective, we could take a look at Netflix’s latest fiscal quarter financial update. In it, the company posted a total revenue of $7.71 billion on earnings of $1.33 per share. Overall, revenue was in line with Wall Street estimates while the company handily topped earnings projections of $0.82. Not to mention, Netflix’s global paying subscriber count is up by a solid 8.28 million. This would be just above expectations of 8.19 million. Following its lackluster guidance for subscriber growth in the current quarter, the company’s shares slid. Nonetheless, Netflix did note that it continues “to grow in every country and region” despite rising competition. All in all, would you consider adding NFLX stock to your watchlist anytime soon?
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