Beware the winds of change. It is extraordinary how quickly a narrative can change. Up until a few days ago, the so-called FAANG stocks of Facebook, Apple, Amazon, Netflix, and Google parent Alphabet were the unstoppable toast of Wall Street, the financial media, and investors at large. But suddenly, the tone of the dialog has changed, and many are now out on the beat lamenting the trouble ahead for these same high-flying names. One prominent firm even went so far as to issue a short call for the FAANG dynasty. What happened to cause the game to change so quickly? And has the phenomenal run in FAANG stocks finally come to an end.
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