(Bloomberg) -- Key iPhone assembler Hon Hai Precision Industry Co. may achieve an “unprecedented” performance in the first quarter, according to Chairman Young Liu. Most Read from BloombergCrypto Crash Erases More Than $1 Trillion in Market ValueMorgan Stanley’s Slimmon Warns Against Buying Growth-Stock DipSolana Suffers Network Instability in Brutal Week for CryptoU.S. Orders Families of Diplomats Out of Ukraine Citing War RiskShares in Hon Hai, the world’s largest contract manufacturer of elec
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FAANG stocks -- essentially the top five stocks of the tech sector -- as a group cooled off in 2021. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) led the group of growth stocks with a 65% return for the year, followed by Apple's (NASDAQ: AAPL) near-34% return. The rest of the group -- Meta Platforms (NASDAQ: FB), Amazon (NASDAQ: AMZN), and Netflix (NASDAQ: NFLX) -- all underperformed the S&P 500 index, which returned nearly 27% for the year.