FAANGM doing well despite tax, anti-trust moves

London

THE global minimum tax agreement and persistent anti-trust moves by the US, Europe, Australia and other major economies may well have an impact on Big Tech profits.

Share prices of the so-called FAANGM group of companies - Facebook, Apple, Amazon, Netflix, Google and Microsoft - have fallen slightly below their recent all-time peaks.

According to traders and analysts, market participants have shrugged off government regulatory actions. They also appear to be ignoring moves to draw the huge companies into the 15 per cent minimum corporate tax net.

The companies have done exceedingly well during the pandemic, and their share prices have reflected that.

Using their pre-pandemic prices as a base instead of the March 2020 crash, Amazon has soared by 86 per cent to its recent high, Apple by 84 per cent, Google (which trades as Alphabet) by 69 per cent, Facebook by 61 per cent, Netflix by 56…