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The Market Has No Bite Without the “FANG” Stocks [Chart]

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The Market Has No Bite Without the

The Market Has No Bite Without the “FANG” Stocks [Chart]

Facebook, Amazon, Netflix, and Google created over $440 in value over 2015

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

In the sixth year of the bull run, the U.S. large cap market has had its ups and downs. The S&P 500 peaked at 2134.7 in the early summer months, and promptly collapsed to 1867 points during the August flash crash.

Today, it’s back in black, but only trading just over 1% higher than it started the year.

The only reason that has made this possible is the legendary performance of four tech stocks: Facebook, Amazon, Netflix, and Google (now called “Alphabet Inc.”). Together, the “FANG” stocks have created an impressive $440 billion in market capitalization since January.

For comparisons sake: that’s over 2/3 the size of Apple’s current market cap.

The FANG stocks comprised just over 3.5% of the weight of the S&P 500 index at the beginning of the year, and now they make up 5.1%. They’ve carried the market, and without them the S&P 500 would surely be in negative territory today.

Looking at these companies individually, probably Amazon (AMZN) has been the most impressive over the course of the year. While it didn’t shoot up the 143% that Netflix (NFLX) did, Amazon had a similar performance despite being over 6x the size of Netflix. Amazon is now bigger than Facebook in terms of market cap, and achieved a gain of 116% through the year.

The only problem is that it is now the most expensive stock on the index, at a seemingly ludicrous P/E ratio of 966. The other stocks are expensive as well: Netflix and Facebook are trading at 329 and 108 times earnings respectively. Google is the lone palatable company from that perspective, trading at only 35 times earnings.

This raises the question of how long the FANG stocks can carry the load, and if their work is done.

If so, who will step up to the plate?

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Mapped: Internet Download Speeds by Region

North America and East Asia have the speediest internet.

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Map illustrating median download speeds in each global region.

Mapped: Internet Download Speeds by Region

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

In today’s fast-paced world, internet speed isn’t just a convenience—it’s the driving force behind how we work, play, and connect.

In this map, we illustrate median download speeds in each global region, based on data from the World Bank’s Digital Progress and Trends Report 2023.

North America and East Asia Have the Speediest Internet

According to the World Bank, download speeds in high-income countries increased significantly between 2019 and 2023, while speeds in lower-income countries stagnated.

As of 2022, North America and East Asia have the speediest internet.

RegionMedian mobile download speed (Mb/sec)Median fixed broadband download speed (Mb/sec)
East Asia & Pacific90171
Europe & Central Asia4485
Latin America & the Caribbean2674
Middle East & North Africa3636
North America83193
South Asia2743
Sub-Saharan Africa1615

This difference in broadband speeds can mainly be attributed to investment.

In 2020, nearly 90% of global telecommunication investment came from East Asia and the Pacific, Europe and Central Asia, and North America. These regions not only concentrate the highest-income population but also the top technology hubs.

Meanwhile, low- and middle-income regions such as Latin America and the Caribbean, South Asia, and Sub-Saharan Africa accounted for less than 10% of total investment.

Most of the investment is directed towards fiber optic and 5G mobile networks. According to the mobile industry association GSMA, mobile operators alone are projected to invest more than $600 billion between 2022 and 2025, with 85% of the total allocated for 5G.

In 2023, broadband speeds in high-income countries were 10x faster for fixed connections, and 5x faster for mobile connections compared to those in low-income countries.

Fixed broadband connections, which provide high-speed internet to residences or businesses, reached 38% of the population in high-income countries. In comparison, fixed broadband penetration was only 4% of the population in lower-middle-income countries and almost zero in low-income countries.

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