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Benzinga
Benzinga
Business
Oleg Spilka

Biting Back: Will FAANG Favorites Recapture their Form on Wall Street in Q3 2022?

FAANG Nasdaq Netflix Charles Lemonides Covid-19 Meta Microsoft Inflation Pandemic Alphabet

Despite having an extraordinary track record on Wall Street, 2022 has been a testing year for FAANG stocks. Having taken a battering from tech stock sell-offs in the wake of record-breaking inflation and supply chain issues arising from the Covid-19 pandemic, leading growth stocks have struggled to recapture the form that pushed many companies to new all-time high prices last year. With firms like Netflix, which had a considerable presence in Russia before ceasing operation in the wake of the invasion of Ukraine, geopolitical tensions have also hit traditionally steady stocks hard. 

FAANG stocks, consisting of Meta Platforms Inc (NASDAQ:FB), Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Netflix Inc (NASDAQ:NFLX), and Alphabet Inc (NASDAQ:GOOGL), have all experienced hardships that haven’t been seen since the depths of the initial Covid-19 crash in March 2020. 

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