Fang is back to trouncing older 'gray chip' tech this month
Fang is back to trouncing older 'gray chip' tech this month"
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After a blockbuster Netflix earnings report and a breakout by Google shares, a basket of Jim Cramer's FANG stocks is trouncing a basket of older technology shares this month.
Disappointing profit reports from Intel and IBM this week only added to the pain. An equal-weight basket of FANG stocks is up more than 6 percent in October, compared to a 2 percent loss by
an equal-weight basket of tech stocks that had their IPOs before 1990, according to CNBC PRO analysis using Kensho. Here is how the individual members of the FANG basket have performed in
October: And here are the worst performers of the 14-member "gray chip" basket so far this month. The gray chips were beating 2015's darling FANG names big time heading into
October, up 26 percent versus 9 percent year to date as investors sold momentum stocks in favor of higher-dividend names. That has reversed this month on fears interest rates are headed
higher, a trend that would hurt big dividend payers and also favor stocks with faster growth. Disclosure: NBCUniversal, parent of CNBC, is a minority investor in Kensho.
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Fang is back to trouncing older 'gray chip' tech this monthAfter a blockbuster Netflix earnings report and a breakout by Google shares, a basket of Jim Cramer's FANG stocks i...
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