The stock market has been volatile as COVID-19 omicron-variant-fueled pessimism reigns. Nevertheless, JPMorgan (JPM) expects FAANG stocks Amazon (AMZN), Meta Platforms (FB), and Netflix (NASDAQ:NFLX) to soar in price in 2022. Read on.Over the past few weeks, the stock market has been volatile on concerns over the rapidly spreading omicron COVID-19 variant. According to the U.S. Centers for Disease Control and Prevention data, the omicron variant now accounts for 73% of U.S. coronavirus infections. In addition, Sen. Joe Manchin, a conservative Democrat, said on December 19 that he wouldn’t support the Biden administration’s ‘Build Back Better’ plan, dashing investor hopes surrounding the bill.
However, according to a FactSet report, the S&P 500 will close at or above 5,000 by 2022. Given this backdrop, we think it could be wise to invest in FAANG stocks on their market dominance and stable growth. According to a Seeking Alpha article, JPMorgan Chase & Co. (NYSE:JPM) analyst Doug Anmuth said in a note to investors on December 15 that e-commerce and subscription-based names are preferable to online advertising, given the reacceleration of growth, and “an overall more favorable operating environment.”
FAANG members Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (FB), and Netflix, Inc. (NFLX) are among the top internet stocks listed by JPM for 2022. So, we think it could be wise to add these stocks to your watchlist.