Over the past few weeks, the stock market has been volatile on concerns over the rapidly spreading omicron COVID-19 variant. According to the U.S. Centers for Disease Control and Prevention data, the omicron variant now accounts for…
73% of U.S. coronavirus infections. In addition, Sen. Joe Manchin, a conservative Democrat, said on December 19 that he wouldn’t support the Biden administration’s ‘Build Back Better’ plan, dashing investor hopes surrounding the bill.
However, according to a FactSet report, the S&P 500 will close at or above 5,000 by 2022. Given this backdrop, we think it could be wise to invest in FAANG stocks on their market dominance and stable growth. According to a Seeking Alpha article, JPMorgan Chase & Co. (JPM) analyst Doug Anmuth said in a note to investors on December 15 that e-commerce and subscription-based names are preferable to online advertising, given the reacceleration of growth, and “an overall more favorable operating environment.”
FAANG members Amazon.com, Inc. (AMZN – Get Rating), Meta Platforms, Inc. (FB – Get Rating), and Netflix, Inc. (NFLX – Get Rating) are among the top internet stocks listed by JPM for 2022. So, we think it could be wise to add these stocks to your watchlist.
Amazon.com, Inc. (AMZN – Get Rating)
Famous online retailer AMZN in Seattle, Wash., offers a variety of products and services through its platforms. The company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. In addition, it provides electronic devices, such as Kindle, Fire tablet and Fire TV, Echo, Ring, and it also develops and produces media content, which it publishes on its membership only Amazon Prime.
On December 2, AMZN’s AWS launched AWS Cloud WAN. This managed wide area network service makes it faster and easier for enterprises to build, manage and monitor a unified global network. This launch could help boost the company’s revenue.
AMZN’s net sales for the third quarter, ended September 30, 2021, increased 15% year-over-year to $110.81 billion. The company’s net sales from AWS increased 38.8% year-over-year to $16.11 billion. For the nine months ended September 30, 2021, its net income increased 35% year-over-year to $19.04 billion.
Analysts expect AMZN’s revenue for its fiscal year 2021 to increase 21.9% year-over-year to $470.52 billion. Its EPS for its fiscal year 2022 is expected to grow 25.8% year-over-year to $51.50. Also, it has surpassed the Street’s EPS expectations in three of the trailing four quarters. Over the past nine months, the stock has gained 8.6% in price to close yesterday’s session at $3,341.58.
Meta Platforms, Inc. (FB – Get Rating)
Formerly known as Facebook, Inc., FB in Menlo Park, Calif., focuses on building products that enable people to connect and share through mobile devices, personal computers, virtual reality headsets, and in-home devices. Its segments include Family of Apps (FoA) and Facebook Reality Labs (FRL). While its FoA segment includes Facebook, Instagram, Messenger, Whatsapp, and others, its FRL segment consists of augmented and virtual reality-related consumer hardware, software, and content.
On December 16…
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