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Even though global supply chain constraints and high inflation could mar the technology industry’s growth in the near term, FAANG stocks are again attracting attention after reporting strong third-quarter results. The Federal Reserve’s decision to keep benchmark interest rates unchanged should act as a growth catalyst. Furthermore, increasing demand for advanced tech products and services amid the accelerating digital transformation of several businesses should keep driving the technology industry’s growth. According to GoRemotely, the U.S. tech industry is expected to reach $5 trillion by the end of 2021.
NFLX’s shares have gained 29.2% in price over the past three months, while GOOGL has returned 9.7%. However, GOOGL’s 44.4% gains over the past nine months are significantly higher than NFLX’s 21% returns. And GOOGL is the clear winner with 69.2% gains versus NFLX’s 23.6% returns in terms of year-to-date performance.
