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Stocks that are Influencing the Market Midweek

JP Gravitt
Updated

Newsflash – old tech is losing. IBM is getting smoked today- down 8%. Oracle (ORCL) had a tough go of it when they reported in mid-March as well. The NYSE Fang+ Index meanwhile is up almost 12% since the lows. Only one FAANG has reported so far, but it was fantastic. Netflix (NFLX) had solid numbers that drove the stock to new highs. My style is not to buy at the highs, but the company will still be growing earnings 60% next year. Even with the various problems we have discussed pertaining to Facebook (data stealing), Apple (cycle problems), and Amazon (angry Trump), FAANG has reasserted itself as a leader. And keep in mind, that at least in tech, value is not winning over growth.

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