The FANG stocks are on fire again -- unlike the rest of the market.
The top tech stocks -- Facebook Inc., (FB) Apple Inc., (AAPL) Amazon.com Inc., (AMZN) Alphabet Inc. (GOOGL) and Netflix Inc. (NFLX) -- have been rallying over the past month after an unusual period of struggling earlier this year. Between Facebook's recovery from its Cambridge Analytica scandal to Apple's stronger-than-expected earnings report and record share buybacks, the giant tech companies have largely bounced back, while the rest of the market has lagged behind. Facebook has now recovered all its losses since before the Cambridge Analytica story first broke in mid-March.
According to S&P senior index analyst Howard Silverblatt, while looming concerns regarding trade tariffs on China and political tensions with North Korea are pressuring the broader market, the FANG stocks have more positive momentum behind them.
"Nobody's immune [to these issues], but the impact [on FANG companies] has been slight," Silverblatt told TheStreet. "They are showing growth, they are showing utilization by customers, and they're continuing to expand."
It doesn't hurt that many of the FANG stocks' products, from Facebook's social network to Apple's iPhones, have become integral to consumers' daily lives, Silverblatt said.
Over the past month, Facebook shares have increased 11.6%, Amazon shares are up 9.4%, Netflix shares have increased 5.9%, Apple shares have risen 5.6% and Alphabet shares have gone up 3.9%.
Meanwhile, over that same period of time, the Dow Jones Industrial Average has increased just 0.4%, while the S&P 500 has increased 1% and the Nasdaq has risen 2.5%.
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