Why FAANGM Stocks Fell Last Month

September hurt nearly all the FAANMG stocks [FB, AMZN, NFLX, MSFT, GOOG] as markets worried over many macroeconomic risks. The Fed’s rate hikes may fail to slow rising inflation rates. Also, investors are worried that market valuations are stretched, selling the widely-held technology stocks first. Company-specific risks also hurt the share price.

Governments scrutinized Facebook’s impact on children. In a Senate hearing, lawmakers questioned the company’s knowledge on Instagram potentially hurting the body image among teenagers. Facebook (NASDAQ:FB) halted its plans to launch an Instagram site for users in that age group.

Microsoft (NASDAQ:MSFT) launched a Surface tablet refresh. The company also continued its plans to update users to its operating system, Windows 11. Despite the good news, MSFT stock fell below its 20-day and 50-day moving average.

Amazon (NASDAQ:AMZN) retreated down to its key 200-day moving average. The e-commerce giant launched new hardware, including Echo Show and a robot (buyer invite only). Markets sold on the news.

Apple (NASDAQ:AAPL) announced a new iPad refresh and iPhones. This will lift quarterly sales, undermining the stock’s selling pressure.

Netflix (NASDAQ:NFLX) bucked the trend. The K-Drama success of Squid Game encouraged investors to hold the stock for the strong content at a low cost.

Google (NASDAQ:GOOG) dipped slightly as markets anticipated its customer advertising spend would fall. The economy shows no sign of slowing down, so the drop in GOOG stock is irrational.