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Apple, Amazon, Netflix Are Bruised, but Have Long-Term Value

Tech giants like Apple (AAPL), Amazon (AMZN) and Netflix (NFLX) are bruised amid the global markets selloff, but still have long-term value.
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Tech giants like Apple (AAPL), Amazon (AMZN) and Netflix (NFLX) are bruised amid the global markets selloff, but still have long-term value. ‘These stocks have taken quite a beating, but there’s still long-term value in those plays,’ said Chris Beauchamp, a market analyst with IG, based in London. ‘These are very solid businesses and the performance has been strong in what has been a very lackluster earnings season.’ He said investors should be looking at stocks like the aforementioned technology darlings: names that were heavily popular before the selloff, but have now been depressed and offer a more attractive opportunity than a few months ago. Apple shares lost 19.5 percent since its high on April 27 and reached a low for the year on August 24. Amazon fell 9.5 percent since its high on August 5. Shares of Netflix slumped 16.4 percent since the high on August 6. Meanwhile, Beauchamp expects volatility seen across global markets in recent days to subside. TheStreet’s Scott Gamm reports from New York.

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