3 Incredible FAANG Stocks You’ll Want to Consider Adding to Your Portfolio in July

It’s been a while since the term “FAANG stocks” captured investors’ attention, mostly because these stocks aren’t the red-hot names they used to be. The so-called “Magnificent Seven” tickers have taken their place as the market’s hot-button grouping.

The thing is, all five FAANG stocks are still incredible investments, and three of them are standout prospects you’ll want to consider adding to your portfolio sooner rather than later.

1. Amazon

Most investors know Amazon (NASDAQ: AMZN) has (literally) been the market’s most rewarding stock over the past three decades; shares are up more than 260,000% since their 1997 initial public offering. Most investors also understand, however, that the e-commerce giant’s highest-growth days are in the past. It’s simply too big now to continue growing at its historical pace.

That doesn’t mean its future isn’t bright, however. It’s just different in a handful of compelling ways.

One of these ways is a relatively new, intense focus on profitability. Although the company has historically been more interested in expanding its footprint than turning a profit, for the past couple of years it’s been closing and canceling warehouses that couldn’t operate as cost-effectively as needed. It’s streamlining all of its operations to cull costs.

And it’s working! While its first-quarter top line improved 13% year over year, operating income more than tripled. Notably, its international e-commerce operation swung from a regular loss to an operating profit of $900 million. That’s the best this arm’s done since early 2021 when the COVID-19 pandemic was in full swing.

Data source: Amazon Chart by author. Figures are in billions.

Amazon’s cloud computing arm, Amazon Web Services, is also firing on all cylinders, bouncing back from soaring operating expenses seen in late 2022 and 2023. Its first-quarter operating income of $9.4 billion is record-breaking and continues to improve. Look for more of the same, too. Mordor Intelligence believes the cloud market is poised to grow at an average annual pace of more than 16% through 2029.

Amazon’s newest business…

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