The market leadership of the S&P 500’s five largest stocks — Facebook FB, +3.50%, Amazon AMZN, +1.94%, Apple AAPL, +1.98%, Microsoft MSFT, +2.11% and Google owner Alphabet GOOGL, +2.21% — is under threat from a number of risks on the horizon, according to Goldman Sachs analysts.
They said President Joe Biden’s plans to raise corporate and capital-gains tax rates pose potential risks to the quintet. They noted that FAAMG stocks have appreciated by $5 trillion in the past five years, or 29% of the S&P 500’s market cap increase over that time.
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