Wall Street Hunts for New ‘MANGOS’ as FAANG Fades — Could Jump 20%?
Wall Street is ditching the old FAANG stocks and hunting for a new crop of winners dubbed “MANGOS,” while analysts see WEX stock jumping nearly 20%.
The era of the “Magnificent Seven” tech stocks may be ending as investors shift focus to a new acronym: MANGOS, which stands for Meta, Apple, Nvidia, Google, Oracle, and Salesforce [178319]. The original FAANG group—Facebook, Apple, Amazon, Netflix, and Google—has faced slower growth, regulatory pressure, and changing consumer habits, prompting analysts to look for firms with strong earnings potential and innovative technology [178319]. The new group includes cloud computing and business software specialists Oracle and Salesforce, as well as AI-chip leader Nvidia [178319].
Meanwhile, Bank of America has identified five technology stocks it believes have significant growth potential for the second half of the year, based on strong fundamentals, market position, and expected earnings momentum [178298]. Separately, Deutsche Bank analysts see significant upside for WEX Inc., a financial technology company specializing in payment processing for vehicles and healthcare, forecasting a potential gain in the “high-teens” percentage range from its current price [178337]. This positive outlook is based on WEX’s strong position in its core markets and expected growth in transaction volumes [178337].
Not all market momentum is coming from tech, however. A new chart suggests the next leg higher may come from traditional industries such as energy and manufacturing, which are starting to outperform tech as investors shift focus to companies with strong cash flow and steady dividends [178320].