For a number of years now, the FAANG stocks (Facebook, Apple, Amazon, Netflix & Google) were all the rage. These stocks were in super bull moves and were taking the big cap indexes like the NASDAQ 100 and the S&P500 higher. Other stocks rallied to be sure, but now nearly so much. As a group, FAANG were growing both revenues and profits. Furthermore, it seemed like these companies were well on their to building monopolies in their respective spaces, so profit growth seemed assured. With profits assured, these stocks moved in just one direction.
