Did FAANG Stocks Bottom?? Will The Tech Rally Continue Next Week? | Summary and Q&A

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February 26, 2022
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The Investor Channel
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Did FAANG Stocks Bottom?? Will The Tech Rally Continue Next Week?

TL;DR

Rollercoaster week for major stocks, including Facebook, Apple, Amazon, Nvidia, Google, Microsoft, and Tesla, with potential opportunities for dip buying and possible bottom formations.

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Questions & Answers

Q: Why did Facebook switch to an open-source version of Google for their VR and AR operating system?

The switch could be to control costs, although Facebook has been focusing on next-gen AI investments and the profitability of these ventures remains uncertain.

Q: Which companies are leading the bidding for NFL Sunday Ticket?

Apple and Amazon are the main contenders, reportedly offering around $2 billion per year, as they have the financial capabilities and broad distribution for such a deal.

Q: How is Nvidia benefiting from the GPU market's early upgrade cycle?

Anecdotal evidence suggests that gamers are waiting for prices to come down before upgrading, and the high demand and limited supply are driving GPU prices up, benefitting both Nvidia and AMD.

Q: Why are digital publishers considering leaving Google's mobile web approach?

Google's accelerated mobile pages limit publishers' ability to run other forms of advertising, leading publishers to push back, stating that they can achieve similar performance using their own code and html.

Q: Why did Activision postpone the 2023 version of Call of Duty?

The reasons are unclear, but it could be related to game quality, production challenges, or a change in strategy due to Microsoft's acquisition of Activision.

Q: Why is Tesla being investigated by the SEC for potential insider trading violations?

The investigation is regarding a Twitter poll by Elon Musk asking if he should sell his shares, which coincided with his brother's sale of a large position. If found guilty, they may face minimal penalties.

Q: What is the significance of Tesla boosting parts production in its Gigafactory in Shanghai?

Tesla's continuous expansion of production capacity in China allows for quicker scale-up and favorable regulatory conditions, contributing to strong results from the Gigafactory.

Q: What should be considered when analyzing the technical trends of stocks like Facebook and Apple?

While there may be temporary bottoms, it is recommended to wait for a breakout above resistance levels to confirm a reversal. It is also crucial to assess market conditions, upcoming earnings, and potential resistance at all-time highs.

Summary & Key Takeaways

  • Facebook started the week at $208, dropped to below $190, and ended at $210. Meta Platform is breaking up its VR and AR team and moving towards an open-source version of Google, potentially to control costs. Facebook also detailed its next-gen AI investments.

  • Apple started the week at $168, dropped to less than $155, and rallied to $164. They outpaced the PC market in terms of sales but are still in fourth place behind HP, Dell, and Lenovo.

  • Amazon started the week at $3008, dipped to $2848, and ended at $3075. Apple and Amazon are leading the bidding for NFL Sunday Ticket, offering a rumored $2 billion per year.

  • Nvidia started the week at $243, dipped to $217, and rallied to $241. The company faced a potential cyber attack but continued business uninterrupted. The GPU market is in its early upgrade cycle, benefiting Nvidia and AMD.

  • Google started the week at $2661, dipped to $2533, and ended at $2690. Digital publishers are considering exiting Google's mobile web approach due to limited advertising options.

  • Microsoft started the week at $290, briefly dipped to $275, and rallied to $297. Activision postponed the 2023 version of Call of Duty, possibly indicating a shift in game release strategy.

  • Tesla started the week at $863, dropped to $732, and ended after-hours trading at $811. Elon Musk and his brother are under SEC investigation for potential insider trading violations. Tesla is increasing parts production and capacity at its Gigafactory in Shanghai.

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