January 27, 2022

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Apple Stock Hits Record $3 Trillion Valuation: Tech Stocks Roundup

Apple stock reached new highs in the past week, hitting a $3 trillion valuation. It’s the first company to ever garner such a valuation.

But, looking across the board, the rest of the FAANG space doesn’t look quite as strong. Three of those five components — Amazon  (AMZN) – Get Amazon.com, Inc. Report, Netflix NFLX, and Meta  (MVRS) – Get Meta Report — are more than 10% below their respective one-year high.

Based on the technicals, mega-cap tech stock Alphabet  (GOOGL) – Get Alphabet Inc. Class A Report would seem like the most likely candidate for the next FAANG stock to hit new highs. It’s less than 4% off its all-time high, even though that level was hit back in mid-November.

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