All of the FAANG stocks rose in the second quarter, with Alphabet surging the most—by 9.7 percent—and Apple the least at a meager 0.3 percent. All of the stocks have built on gains so far in the third quarter, with Netflix gaining the most at 14.5 percent and Alphabet the least at 1 percent.
Daniel Morgan, who helps manage about $12 billion at Synovus Trust Company in Atlanta, said the firm owned all of the FAANG stocks, with the smallest position being Netflix. He said the streaming video company was vulnerable to stiff competition.
"I’m kind of worried that, five years from now, we’re not going to be talking about Netflix like we don’t go and drop our discs off at Blockbuster anymore," Morgan said. “There are enough issues out there to keep us from having it as a large position."
This article was provided by Reuters.