Facebook, Apple, Amazon, Netflix and Google parent Alphabet – the names behind the FAANG acronym – concluded their quarterly earnings reports on Friday. Some, such as video streaming business Netflix, gave a good account of themselves and were rewarded with another burst higher in already lofty share prices. Others revealed a few wrinkles.

Nick Griffin, Munro Partners CIO, shared his views on FAANG stocks with the Australian Financial Review.

He believes that rather than being towards the end of a period of expansion for Facebook and Google, we are more likely “only halfway”. Google, for example, through YouTube is set to take an increasing share of advertising dollars, he says.

“There’s a strong argument that a big chunk of TV advertising will end up at Google – people underestimate what else can be done.” The potential for growth is even greater for the likes of Amazon and Netflix, Griffin says, as the former has only 3 per cent of the US retail sales, and the latter only 6 per cent of total video cable spending.”

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