- Four of the five FAANG stocks – a popular basket that includes Facebook,Apple,Amazon,Netflix, and Google parent Alphabet – hit intraday record highs on Tuesday.
- Alphabet was the only one to fall short. Its most recent record came on Feb. 19.
- Technology stocks have outperformed since the March 23 market bottom that saw the Nasdaq Composite index tumble 30% over roughly five weeks.
- Outlined below is how much each of the FAANG stocks gained at Tuesday intraday highs.
- Read more on Business Insider.
Alphabet was the only one to fall short. Its most recent record came on Feb. 19. Still, shares are up more than 12% year-to-date.
Technology stocks have outperformed during the market’s swift rally from March 23 lows that saw the Nasdaq Composite index tumble 30% over roughly five weeks. The outperformance has been driven by the perception that the tech industry is well-positioned to lead the post-coronavirus economic recovery.
Tech’s outperformance has pushed the Nasdaq to multiple record highs since the March bottom, and it was the first index to recover its pandemic rout losses.
Outside of the FAANG group, shares of Microsoft also hit an all-time high on Tuesday, gaining as much as 1.9%.
Here’s how much each record-setting stock gained at intraday highs:
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