Alphabet (GOOGL) also hit an all-time high yesterday of $1183.58, and currently sits at $1178.69. The multinational conglomerate may be worth paying attention to after a recent announcement that Google is investing $550 million in JD.com, a Chinese e-commerce giant. The strategic investment is likely the “beginning of a long-term relationship between the two, to strengthen Google Shopping on the one hand, and expanding JD.com’s global reach on the other.”
The FANG stocks have performed remarkably well recently, with all but AAPL having hit their all-time high prices on Monday. New strategic initiatives in the works for all four companies has caused for the FANG bears to remain highly optimistic for the future of these tech stocks.
Carter Worth, Cornerstone Macro head of technical analysis, appeared on CNBC’s “Fast Money” to explain why he thinks FANG stocks are the best place for your money right now. Watch the full clip below:
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