Tech Stocks Decouple From Facebook [Bloomberg Business News]
Apple Inc. (AAPL)
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Source: Bloomberg Business News
By Elena Popina Facebook has underperformed the broader tech index for months The stock’s weakness may send ripples across rivals: Weeden Facebook added to losses in high-flying tech peers on Monday. But today, they’re standing strong. Apple Inc., Netflix Inc. and Amazon.com Inc. are up at least 0.5 percent, compared with Facebook Inc.’s dip of as much as 6.2 percent. The social media company has lost 12 percent this week, its biggest two-day retreat since 2012, based on closing prices. News that a company linked to President Donald Trump’s 2016 campaign may have collected data from Facebook users without permission sparked concern that the social media giant -- and potentially its peers -- could face increased regulatory scrutiny. Investors seem to be mostly shrugging off this concern, at least for now. Shares of Facebook have been under pressure for months amid conce
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