Hightower Advisors' Stephanie Link cut Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) from her portfolio to kick off the new year and it seems she isn't done sending FAANG names to the guillotine.
The investment strategist said Tuesday she has exited her position in Amazon.com Inc (NASDAQ:AMZN).
"I've owned this stock for many, many years — I was up over 300%," Link said on CNBC's "Fast Money Halftime Report." She said the stock could struggle in the near term.
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"I think that the fourth-quarter is going to be fine, but I'm not happy with the first-quarter numbers," Link said. "The full-year numbers are already starting to come down because of tough comparisons."
The e-commerce space was a stay-at-home beneficiary, Link noted. Although she expects the Amazon Web Services business to continue to do well, she thinks the near-term upside is already priced in.
"I think a lot of good news is in it and I just don't like the way these FAANGS are trading," Link emphasized.
Amazon is set to announce its fourth-quarter financial results after the market closes on Feb. 3.
AMZN Price Action: Amazon has traded as low as $2,707 and as high as $3,773 over a 52-week period.
The stock was down 2.5% at $2,817.37 at time of publication.
Photo: courtesy of Amazon.
