Tech stocks retreat over recent weeks and start what might become a quick recovery. Is it time to buy back in to FANNG stocks after the pullback?
FANNG time again? Facebook, Amazon, Apple, Netflix and Google (other good tech companies available) – is it time to buy again?
Well… if you accept that interest rate concerns of the past few weeks on pause, and that with more U.S. stimulus about to flood the financial system again, then yes it’s probably a good time to stock up. Bond yields appear to be in retreat too…
It has been reported by some analysts that there will likely be a 35% increase in the value of these tech stocks in 2021.
The Nasdaq has retreated over 1500 points from its most recent February high – that’s nearly 11% drop – correction territory.
Nasdaq recovered over 3% in early trade, 9th March 2021.
Tesla rebounds 10%.
Dax and Dow do well
Dax closed up at: 14291 on 8th March 2021 and continued to climb to touch 14472 on 10th March 2021 in early trade.
Dow closed up at: 31802 on 8th March 2021 and continued to climb on 9th March 2021 to reach 32030 in early trade.