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October 27, 2016 | Facebook, Amazon, Netflix, Google account for 90% of Market Cap Gains Since December 2014: Tonight, Amazon Missed

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

In an interesting tweet that shows investor herding into a small subset of high-beta stocks, Jeff Macke notes Facebook, Amazon, Netflix, and Google, collectively named (FANG) account for over 90% of S&P 500 market cap gains since December 2014.

fang1

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Google Beats

Both companies reported tonight.

CNBC reports Google parent Alphabet sees earnings, revenue beat and announces $7 billion buyback.

Amazon Missed

Amazon is down 5% (down $42 from $818 to $775) in after hours trading on a substantial earnings miss: Amazon Reports 52 Cents per Share, vs. Expected EPS of 78 Cents.

Yahoo Finance reported trailing 12-months Amazon’s P/E at 654. That is before today’s report. Lovely.

Mike “Mish” Shedlock

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October 27th, 2016

Posted In: Mish Talk

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