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Big Tech Under the Microscope

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FANG stocks have lead the bull market higher for the past 10 years. Today it was announced that the Federal Trade Commission is investigating Facebook, Inc and Amazon.com while the Department of Justice is probing Google parent Alphabet, Inc as well as Apple, Inc for potential antitrust violations. Although, this news should add stress to a market already testing several 200 day moving average lines, it will likely take years to resolve these investigations. With a resolution to the trade war looking not so easy to obtain, there is not a lot of reason to be a buyer of the broad market As almost always, it’s a good time to remember valuation matters. Something is always on sale; the trick is to find it. Affirm your asset allocation and don’t let other peoples problems become your problem. Today the NASDAQ index fell 2% while FANG stock were down 4%. The SP500 finished down .28% and DJIA nudged up a .02%.

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