One FANG stock could rally another 40% before it gets overvalued, trader says $FB $AMZN $NFLX $GOOGL (via TradingNation)
Despite Alphabet's outperformance,"By far my favorite of the bunch is Amazon," Tepper said Friday on CNBC's "He said its three-pronged focus on e-commerce, cloud computing and advertising elevates it as a company and pushes it above the rest as a portfolio must-have.
"From an e-commerce standpoint, nobody can match them when it comes to price and convenience. Yes, they're spending some money right now on one-day shipping but that's a short-term drag and that's actually going to make them much, much stronger in the long run," Tepper said. He adds that its high-margin businesses in the cloud and advertising spaces have helped it drive growth in recent years. Amazon Web Services, which includes its cloud computing business, reported a more than 45% annual increase in revenue for 2018.
"It's trading in the mid-$1,700s right now. We think fair value is somewhere between $2,000 and $2,400 so plenty of upside here," said Tepper.The FANG stocks have struggled to break out to highs. This could continue to put the brakes on the broad market, said Craig Johnson, chief market technician at Piper Jaffray.
"You can see here that like the market, they're not breaking out to all-time new highs. This has been leadership in the past. It's not really leadership now. But if that's not breaking out, it's going to be a bit of a headwind for the market," Johnson said during the same segment."This is a stock that has been consolidating in a range of about $1,300 at the upper end, $1,000 at the lower end," Johnson said.
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