Tech Leaders Stumble

On Monday evening, GOOGL reported 1Q18 earnings after the bell. The numbers look strong with revenue growth (excluding traffic-acquisition costs) +23% to $25BN, strong earnings and a sharp increase in capital expenditures from $2.5BN to $7.3BN year/year. GOOGL shares popped +4% after hours. However, once the market opened yesterday, GOOGL shares were sold all day and the stock ended the session down -5%. FB has also stumbled this year and its shares are off -18% from the highs of January 2018. AMZN, MSFT and AAPL are faring better but if the technology titans start to lose momentum, the broader market is in trouble.

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The FAANG stocks (Facebook, Apple, Amazon, Netflix and Google) have led this powerful bull market higher since 2009. Their gains have been extraordinary but nothing last forever. If the tech leaders continue to stumble, watch out below.

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