NEW YORK, NEW YORK, UNITED STATES, December 4, 2018 /EINPresswire.com/ — Last week in finance we saw what seems to be the start of a downturn in the stock market, especially amount FAANG tech stocks. Facebook, Apple, Amazon, Netflix & Google all have their problems and many of them are starting to show.
Apple stock (AAPL) is still down from it’s highs in October and some think it will stay down.
“The problem with Apple right now is that they have some fundamental problems in their business. The iPhone sales have surely been low despite the company no longer releasing their sales data. What’s more they have been suffering from a number of lawsuits and misconduct in their supply chain” Joshua Radcliffe from In Stock News (https://www.instocknews.com/) reports.
Another tech stock, Facebook (FB) is very far down this year losing all it’s previous gains from 2017 and still in free fall. From a high of $209.94 on 20th of July, 2017 the stock fell down to $174.89 in just one week.
Facebook stock has continued to fall through the last few months and currently sits at just $140.61 at time of writing.
Amazon stock (AMZN) likewise has suffered tremendous losses from highs of $1952.07 on the 7th of September 2018 and now down to $1640.03 at time of writing. All while Amazon attempts to launch a string of retail stores and with Walmart consistently winning back market share. This may not end well for the eCommerce giant.
Netflix (NFLX) stock also is down from highs of $408.24 on the 6th of July this year, down to just $286.21 at time of writing.
Out of all of the FAANG stocks, Google stock is holding the steadiest yet again is on the decline. It’s anyone’s best guess how low it will go by years end.
With so much turbulence in the market and especially among the top tech stocks, how will the market fare in 2019? Business as usual, or are we in for another global recession as many analysts now think?
Source: EIN Presswire