I buy my FANG with a Visa (V) card while I sip my venti cap from Starbucks (SBUX).
It's how I feel after the extraordinary night where every company that reported was strong, every one, and it could set up for some pretty interesting thin Friday trading.
First, Amazon (AMZN). A profit. It happened. Three different firms urged you to buy the stock this week. Just like three different firms urged you to buy the N in FANG, Netflix (NFLX), last week. Now Amazon's stock is rivaling the gains in the G, Google (GOOGL), and the gain in Netflix. I think it could go even higher than those because of the considerable short base.
It's tough to bet against FANG when the world is slowing because Facebook (FB), Amazon, Netflix and Google are precisely what you buy in an environment where growth is clearly slowing worldwide but the Fed feels it has to raise rates because we have incredibly low jobless claims and minimum wages are going up all over the place. Sure, we have no commodity inflation, but we know the Fed backed itself into a corner and now the only way out is higher rates. You want companies that have products with demand that can't be stopped by those rates. You want FANG!
Starbucks? What can I say? Here is a coffee company that is driven by a mix of high-priced coffee, loyalty and technology, and the three of them coalesced to put up amazing numbers.
And Visa? Aren't these companies supposed to all be bad ... like American Express (AXP) was? No. Visa is run by CEO Charlie Scharf and, as I have told you many a time, this man is tough as nails and is all about taking no prisoners.
Two nights ago, we left with Apple (AAPL) just making us feel miserable. Last night it was Qualcomm's (QCOM) turn. (Apple, Facebook and Google are part of TheStreet's Action Alerts PLUS portfolio.)
No one took their nasty places today. And while, yes, we are all about worrying about China as the people who told us not to worry are now telling us to fret, there are spots where it's just a mistake to freak out about.
We hit a bunch of them this evening and I, for one, find the confluence rather astonishing.
Random musings: I guess by all accounts I should include Juniper (JNPR) and Skyworks (SWKS) in the mix as big surprises. I didn't expect as much from Juniper and I figured Skyworks CEO David Aldrich would deliver, but I didn't think anyone would care. Judging by the reaction, they sure do! (Amazon and Skyworks are part of TheStreet's Growth Seeker portfolio.)