FANG stocks are losing their bite Wednesday.

Facebook Inc. (FB) , Amazon.com  (AMZN) , Netflix (NFLX) and Google (GOOG)  were all falling in trading during the morning session Wednesday, leading the tech-heavy Nasdaq to a 0.4% decline. 

Amazon was leading the way lower, falling more than 1%, while Netflix dropped 0.4%, Facebook declined 0.24% and Google retreated 0.4%. 

FANG stocks are struggling.
FANG stocks are struggling.

Apple (AAPL) is on pace to post a decline for the fifth straight session after Foxconn, a key iPhone supplier, announced a weaker than expected profit forecast for the third quarter. 

Netflix was facing negative pressure after an analyst note from CCS Insight suggested that Apple could launch a streaming service competitor as soon as next year. Netflix is already facing potential competition from Disney (DIS) , which has also announced plans to launch a streaming service for its content. 

Technology has been the best performing S&P 500 sector this year, climbing 37% year to date. However, that runup has given the stock room for correction.

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