Read How JPMorgan Views Meta, Apple, Amazon, Netflix

Tech-dominated "growth" stocks are still not cheap despite sharp falls over the last six months, analysts at U.S. investment bank JPMorgan cautioned, Reuters reports.
The so-called FAANGs have seen some of their COVID-era surges cut back this year.
Meta Platforms Inc FB fell 38%, Apple Inc AAPL was down 5.7%, Amazon.com Inc (NASDAQ: AMZN) down 8.5%, and was Netflix Inc NFLX and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google dropped 35% and 10% respectively.
"As Growth stocks weakened off late, they derated, but are still not outright cheap," JPMorgan's analysts said, adding that banks and commodity-linked stocks which have rallied this year thanks to rising oil and metals prices or interest rates were still "far from expensive."
The chance is that the earnings of 'growth' sectors might not be exceptional anymore, although the big driver remains bond market borrowing costs, which have shot up this year as top central banks have laid the groundwork for interest rate rises.
"We believe that bond yields will keep moving higher through the course of the year," JPMorgan said, referring to the bond market costs.
"While geopolitics could flare up into month-end... we do not expect this to last, and call for risk-on internals to resume into spring".
Price Action: FB shares traded lower by 0.19% at $205.76 in the market on the last check Tuesday.