Has the love affair with FAANG stocks ended? Just as Bank of America Merrill Lynch was pointing out that technology stocks started to become a crowded trade, along comes Morgan Stanley analysis that breaks down the beta factor performance models. In short, they see volatility ahead -- which can disrupt existing momentum trades. When looking at the recent FAANG price breakdown, they consider the relative value analysis with the larger technology universe and are not as alarmed by the relative price move lower.
[buffett]
