Looking at FAANG, and my how things have changed this year.
Facebook (Meta) - Zuckerberg pivots, company now has tough revenue questions. Very tough.
Amazon - in just the past few months, the FY earnings estimate for 2022 has fallen from $48 down to $16 per share. AMZN trades down at $2,100. The 2023 earnings estimate is over $53/share. But both keep falling. The bloom is off the rose, post Covid.
Apple -still solid. Earnings estimates are holding up fine, so far.
Netflix - traded at high of $700, now down at $166. Enough said.
Google - share price under $2,300 is well off the highs that topped $3,000 per share, but earnings estimates are sliding slowly so far. Good value or value trap?
Tesla's - priced at $734 today, well off the high of $1,243. Consensus earnings estimates have actually gone UP recently (to $12.3 and $16 per year for 2022 and 2023).
What's scary is that the Nasdaq could easily fall another 30% or more. Easily. That would mean some great bargains.