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1.Market Observations

31 July 2018 (AFR) – Has the FAANG party finished? – Investors suffer FAANG-over as outlook for US tech giants clouds

(31 July 2018, AFR, p28, by Karen Maley)

‘Are we in the early stages of a replay of the 2000 dot.com bust? That’s the big question for investors after Facebook’s shocking share price plunge last week – which wiped out a record $US119 billion in market value in a single day – after the social media giant warned of slowing user and advertising sales growth. Facebook’s misstep sent a shudder through the FAANGS (an acronym for the US tech giants Facebook, Amazon, Apple, Netflix and Google-parent Alphabet), as investors began to question whether they’d been correct to assume that their stunning growth rates could be continued indefinitely. Analysts have been warning for some time that investors have been predicting an overly rosy future for the FAANGs.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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