The Dow may be in the red so far in 2018 and the S&P 500 may be ahead only 3% year to date, but there is a sizzling summer rally taking place among big-cap technology and small-cap stocks.
Most so-called FAANG stocks –Facebook (Nasdaq: FB), Apple (Nasdaq: AAPL), Amazon.com (Nasdaq: AMZN), Netflix (Nasdaq: NFLX) and Google/Alphabet (Nasdaq: GOOG) — are surging to new all-time highs, with Apple the only member that is somewhat lagging at present. Interestingly, the Nasdaq is trading to new highs without the participation of Apple, something that many analysts thought could not happen. Other tech stocks currently in the limelight, among many, include Microsoft (Nasdaq: MSFT), Alibaba (NYSE: BABA), Adobe Systems (Nasdaq: ADBE), Mastercard (NYSE: MA) and PayPal Holdings (Nasdaq: PYPL).
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