Goldman
Sachs slashed its Apple price target on Tuesday. The firm said
in a note there is a "weakness in demand for Apple's products in
China and other emerging markets," as well as a disappointing
reception for the iPhone XR model.
Facebook shares have slid 40 percent from their highs, as the
company has been the hardest hit of the FAANG stocks. A bevy of
negative publicity has come since this summer, especially focused on
top Facebook executives' handling of foreign influence on the 2016
U.S. election.
Amazon shares continue a fall begun when it gave a fourth-quarter
outlook on Oct. 25 which was much lower than expected. Netflix and
Alphabet shares, meanwhile, have largely fallen in lockstep with the
rest of the FAANG stocks.
Facebook and Alphabet each hit their 52-week highs in July, at
$218.62 a share and $1291.44 a share, respectively. Netflix peaked
in June at $423.21 a share. Amazon and Apple were the most recent to
hit 52-week highs at $2550.50 a share in September and $233.47 a
share in October, respectively.
— With reporting by CNBC's
Dominic Chu .
Facebook Investors Say They Want Mark Zuckerberg To
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