Facebook and Amazon hit records, but not all FAANG stocks have kept up $FB $AMZN $AAPL $NFLX $GOOGL
managing director at Ascent Wealth Partners, said all the FAANG stocks remain solid investments, especially praising Facebook's record-making move.
"The Facebook break is pretty spectacular. It's been a long consolidation -- as you pull up that first weekly chart, it's just a beautiful trending parallel channel. … This $220 break was very, very impressive," Gordon told CNBC's ""Facebook's doing a lot of good things [with advertising and targeted posts] and I love the breakout.
The FAANG stocks have been among the largest contributors to the market's rebound off March lows. The stocks have a combined market cap of $4.4 trillion and, therefore, have a larger influence on the market cap-weighted S&P 500."Apple, for example, I think if you are going to buy your next Apple phone, you might put that off.
Apple isn't the only FAANG stock facing headwinds. Sanchez added that Facebook and Alphabet are competing with major broadcasters for "an ever-shrinking ad spend in this next coming year.""Amazon is the big winner in all of this because everyone [putting] off going to the grocery store has ordered directly from Amazon, has ordered anything they need from any store as most retail has been shut down from Amazon.
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