FANG Stock Rally Might Just Be Getting Started: Former Apple CEO John Sculley
Tech stocks have been on fire this year. That is especially the case for the group known as the 'FANG' stocks, or Facebook, Apple, Netflix and Google. Former Apple CEO John Sculley tells TheStreet he sees further gains ahead for these top tech names.
Fang stocks still have upside despite their recent slump, says one well-known tech exec.
"I think FANG stocks have a good ways to go," former Apple (AAPL) CEO John Sculley told TheStreet regarding growth potential for names like Facebook (FB) , Apple, Netflix (NFLX) and Google (GOOGL) . "The reason I say that is that there are a small group of companies with extraordinary leadership that are in the right place at the right time -- if you look at the most powerful names in market today, they are Amazon, Facebook, Google."
Sculley's comments are on the reassuring side in light of the latest movements in FANG stocks.
The group declined 1.7% Monday for a fifth straight session of losses. That represents the most extended sessions in the red since before the November election, according to data obtained by Bloomberg.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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