There has been constant dooming about falling stock prices, layoffs, reducing profits so now big tech will fail. Did everyone forget what made this group so successful?! A worldwide pandemic is going to have some short term economic consequences. Yes some poor leadership decisions were made but cutting bloating and unprofitable projects is how you avoid becoming GE. FAANG still has the best talent and will be constantly innovating and growing. Look at the balance sheets, a slightly rough quarter means nothing. Every American uses FANG in their daily life. These are most recession proof companies. When the macro environment settles down what companies will benefit most? Wall Street is going to be hyping like no tomorrow and we will see new all time highs. People like to poke fun of the retail side of Amazon and says it’s unprofitable. Well the reality is it’s very fucking profitable in the US and more mature markets. Every American household is a Prime subscriber. Amazon Logistics is the largest carrier in the world, bigger than UPS. Ad business leverages the retail site and is growing insanely fast. And yes AWS is a cash cow if it’s own, but everyone already knows that. Apple is going to keep doing Apple things and print money. Google has their hand in every pie and isn’t going anywhere. Microsoft will keep chopping like they always do. Netflix and Meta might be kinda screwed because they are losing customers and don’t have diverse revenue streams. But there’s plenty of other promising companies on the rise to take their place. These are some of the most successful companies in history. Their innovation and success has provided prosperity and opportunity to millions in various ways. A pro-business administration in Washington could redound the economy quickly. Cut taxes, lower rates, and stop the insane spending causing more inflation. Regardless FAANG will outperform again. #bullish
Too optimistic
Looks like a coach speech to a team losing 0-36 at half time!! But the second half is all that matters. So Go Tech!!
It worked for The Jags last week against the chargers.
Wishful thinking
Quite possible yes. But doesn’t FAANG rip right back in a bull market?
Stock price will come back. People’s super positive perspective on these companies won’t. They’ve been exposed for what they are. Just a place to collect a paycheck.
Ok I think that’s fair. But this was due to happen at some point. And the prevailing public attitude in recent years has already shifted to being there to collect a paycheck.
Talent doesn’t matter if the companies are overpaying and not making money. The P&L is all that matters to investors and the board at the end of the day.
The balance sheets for these companies are unprecedented tho.
What’s more likely is that ChatGPT takes all our jobs and turns us into batteries while our minds get hooked into the Metaverse and we can get endless dopamine hits from fantasy social media.
Too optimistic. A lot of tech firms went hiring crazy during covid due to perceived demand that "digital is king". Now that people are re-entering society and everyone isn't ordering laundry detergent online, demand has fallen on a lot of digital services. Tech will survive and persist but FAANG and market as a whole are going through some course correction. Lots of hiring freezes travel restrictions etc... And if you're in sales looking for a new job right now, good luck.
These are the most successful companies in history and hence they will continue being successful is the laziest argument in business. Go read a business history book and educate yourself. At min read good to great, I beg you. If this is the level of critical thinking of an Amazonian they need to cut another 18k.
Lmao you gonna lecture us on the Dutch East India Trading company bro? I’m well aware of the history of business. The disruption and innovation in every way through technology is what is sustainable. I even mentioned GE as an example in my original post but perhaps your reading. Comprehension didn’t get you past the first round interview at Amazon
Stop crying. Let’s deal with crisis and we will see how future unfolds.
Then don’t b****h that they will be roaring back if sky is not falling on you. Shut your mouth and enjoy employment.
Copppppeeeeeeeeiummmmm
Perhaps. But what is the alternative? Declare that FANG is finished and jump ship. Start ups, mid cap, et al aren’t having a great time at the moment either. 10K layoffs because of over hiring does not mean the business is doomed. Actually the opposite to realize the mistake and take action to operate more efficiently