While that's not great news for investors, it could mean that some growth stocks that are still a bit expensive may become more attractive buys in the near future. Both Seagen (NASDAQ: SGEN) and Alphabet (NASDAQ: GOOG) are two such stocks that investors should keep a close eye on. Biotech specialist Seagen is a top business that you can invest in for the long haul.
Of the three major U.S. stock indexes, the Nasdaq (NASDAQINDEX: ^IXIC) has had by far the worst performance thus far in 2022. All of them have rebounded notably from their 52-week lows, but the tech-heavy index is still down 27% year to date, while the Dow Jones Industrial Average (DJINDICES: ^DJI) is down by just 5% and the S&P 500 (SNPINDEX: ^GSPC) is off 14%. Tech stocks came into 2022 looking overvalued.
There will no doubt be plenty of Oculus virtual reality headsets and iPhones given as gifts this holiday season. All of this means increased business for the so-called FAANG stocks. Here's my pick for the best FAANG stock to buy in December.