Google shares grow 33% year-to-date: are tech stocks still a buy?

Google shares grow 33% year-to-date: are tech stocks still a buy?  

The US stock market is going through a rough patch this month, however, the big picture, shows that Google – with its strong year-to-date growth and fundamentals – remains one of the best tech stocks to buy in May.  

The surprisingly low job growth and high inflation numbers have triggered a stock market sell-off as investors are anxious about the future performance of growth stocks.  

FAANG stocks have taken a hit amid inflation concerns and anxiousness regarding higher interest rates. You can find the monthly performance of FAANG stocks below:  

• Facebook: 3.34% 
• Apple: -4.91% 
• Amazon: -4.68% 
• Netflix: -10.09% 

• Google: 2.21% 

Despite the disappointing short-term performance, however, Google still reigns supreme in the year-to-date range with a growth of 33%, which is far cry from Facebook’s 17% and Amazon’s 1.14%.  

In addition, Google’s Q1 earnings report, which was published on the 27th of April also beat analysts’ expectations as EPS (earnings per share) rose to $26,29 compared to the consensus of $15.82.  

Revenues also exceeded expectations as the tech giant brought in $55.3 billion thanks to a great performance by YouTube ads and Google Cloud.   

The volatility created by a sell-off oftentimes turns into a great buying opportunity. As prices drop, latecomer investors can get into the market at a significant discount as was the case with cryptocurrencies and several other asset classes.  

Therefore, it’s important to note that this market downturn is more likely to be short-lived and that patient investors will be able to take advantage of low prices and higher profit potential if enter before the economy corrects itself and the market bounces back to its usual levels.  

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