FAANG Stocks Drop $100 Billion as Alphabet Loss Bites Hard

Alphabet sinks as advertising revenue trails analyst estimates
Apple shares retreat ahead of results due after market close

Key Speakers At Dmexco Digital Marketing Conference — Photographer: Krisztian Bocsi/Bloomberg

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By Ryan Vlastelica

April 30, 2019 at 6:37 PM UTC

Updated on

April 30, 2019 at 8:12 PM UTC

This article is for subscribers only.

One of the year’s hottest trades in stocks just suffered a huge market-value loss, due to angst around earnings.

Led by an earnings-driven sell-off at Alphabet Inc., the so-called FAANG group of major technology and internet stocks lost more than $100 billion in combined capitalization. The five stocks -- Facebook Inc., Amazon.com Inc., Apple Inc., Netflix Inc. and Google’s parent company -- posted their second-biggest drop of the year by this measure, according to Bloomberg data.