to top

How did major stocks change after COVID-19?

Fintech News

COVID-19 officially named pandemic drastically changed people life and crushed the world economy. Let’s see how major stocks dynamic of Facebook, Amazon, Netflix, Google, Apple and Microsoft has changed due to it.

In March some advised to buy FAANG stocks saying it was a good move. Well apparently, they were absolutely right as the statistics showed good results.

What are FAANG stocks? They include U.S. tech giants as Facebook, Amazon, Apple, Netflix and Google parent Alphabet. Each stock trades on the Nasdaq exchange.

The companies have withstood successfully the pandemic crisis, with some of them making good performance.

Facebook’s rise

After Facebook launched its extra function Shops to support during corona pandemic, it rose above $220. On Friday, the Facebook stock hit a new closing price of $234.91 which was even higher.

In the pre-market now, the Facebook stock is 2.17% up, $240.00.

Amazon, Netflix

Amazon and Netflix showed pretty good performance as Facebook does. On Wednesday, Amazon reached a new record of $2497.94. It experienced very slight decline and reached $2436.88, but today Amazon shares are 1.24% up at $2,467.00.

As for Netflix stock, it recorded a new all-time high on May 15, closing at $454.19 then. After their announcement about inactive subscriptions, Netflix shares slightly fell by 2.55%, but investors didn’t lose their confidence in the company.  As a result, on Friday, Netflix stock closed at $429.32.

Apple, Google

Apple and Google didn’t perform as well as previous companies. Apple and Google are 3% and 8% accordingly below their all-time highs. To recap, Apple’s highest closing price was $327.20 on February 12, while the all-time high of Alphabet stock totaled $1524.87 on February 19.

Apple and Alphabet stocks ended Friday’s session both in the green, at $318.89 and $1413.24.

Guide to Forex

Microsoft

Microsoft showed very good dynamic and has been on the news lately: a partnership with FedEx, the acquisition of robotic-process automation company Softomotive, the purchase of Metaswitch network, and others. Last Friday, its stock closed at $183.51, or 0.04% up. In the pre-market today, it has jumped by 2.07% to $187.30.

Just to compare with financial crisis in 2008, Microsoft recovered strongly to levels of almost $24 in early 2010 – rising 92% between March 2009 and January 2010.

As for now the stock has dropped about half of what it did in the 2008 crisis, it shows good performance right now. “In the third quarter of fiscal year 2020, COVID-19 had minimal net impact on the total company revenue,” the company disclosed, while admitting that some transactions along with advertising on LinkedIn and Bing slowed down toward the end of the quarter.

It was a brief overview of major stock dynamic. Many tech giants outperformed the financial expectations that they faced even before the coronavirus pandemic in earnings! Feel free to share it in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.

Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the CEO of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.

DO YOU NEED MY TEAM HELP?

Please write me an email with your specific case or book a Skype call, my team and I will be more than happy to help you to find the best solution for your business need or to advice and support you to start the new business venture.

Leave a Reply

Your email address will not be published. Required fields are marked *