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The Fairest of The FAANG: Special Report on the Tech Generals

On August 9, 2011, Apple became the largest company in the world by market cap when it briefly exceeded Exxon-Mobile for the first time. This marked the beginning of the golden age of the FAANG when their invincibility was assumed, and anything but a positive earnings surprise was out of place. Of course, the names did very well in the post-pandemic period as the digital transformation was accelerated, and the wide moats of the Tech generals provided some respite from new risks. In the 2010s, th

On August 9, 2011, Apple became the largest company in the world by market cap when it briefly exceeded Exxon-Mobile for the first time. This marked the beginning of the golden age of the FAANG when their invincibility was assumed, and anything but a positive earnings surprise was out of place. Of course, the names did very well in the post-pandemic period as the digital transformation was accelerated, and the wide moats of the Tech generals provided some respite from new risks. In the 2010s, the companies had an air of invulnerability that has now since been shattered. Anti-trust concerns, the concentration of key revenue drivers, and waning customer loyalty because of reputational issues have been headwinds for Technology. To add to these headwinds, both sides of the political spectrum have issues with these prodigious firms.  The Golden Age may be over, but that doesn’t mean these stocks aren’t still good places to put your money to work.

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