FAANG Stocks Performance Over the Last Decade

FAANG stocks created substantial wealth over the decade to September 2026, but their returns were far from smooth and do not guarantee similar gains ahead.

• Apple returned about 1,208% over 10 years.
• Alphabet returned about 737%.
• Netflix returned about 644%.
• Amazon returned about 519%.
• Meta Platforms returned about 487%.
• Several of these stocks also suffered falls of more than 40% during difficult periods.
• Their businesses now depend on areas such as advertising, cloud computing, subscriptions, devices, e-commerce, and artificial intelligence.

• Buying all five still creates heavy concentration in large US technology and internet companies.

  
  

Last reviewed: September 2026

The five stocks produced very different returns from September 2016 to September 2026.

The securities quoted are for example purposes only and not a recommendation.

*Approximate nominal total return for the 10 years ended 23 September 2026, with dividends reinvested where applicable. Returns can vary slightly depending on the exact start date, share class, and data source.

The key point is that all five gained over the full decade, but they did not move upward in a straight line.

Some suffered very large falls along the way.

For example, Meta fell more than 60% in 2022, while Netflix also lost more than 50% that year.

So a strong 10-year return does not mean the journey was low-risk.

Their businesses expanded far beyond what they looked like 10 years ago.

How did Apple grow?

Apple now earns money from both devices and services.

In FY2025, Apple reported total net sales of about $416.2 billion.

Its Services business alone generated about $109.2 billion, compared with $96.2 billion a year earlier.

This matters because Apple is no longer only an iPhone story.

Services such as the App Store, cloud services, advertising, subscriptions, and other digital products have 

become an important part of revenue.

How did Amazon grow?

Amazon expanded from online retail into cloud computing, advertising, subscriptions, and marketplace 

services.

In 2025, Amazon reported net sales of about $716.9 billion.

Amazon Web Services, or AWS, generated about $128.7 billion of sales and about $45.6 billion of operating 

income.

This shows why Amazon’s business today is much broader than an online shopping website.

How did Meta grow?

Meta’s main earnings engine remains its family of apps.

In 2025, Meta reported total revenue of about $201 billion.

Its Family of Apps business includes Facebook, Instagram, Messenger, WhatsApp, and related services.

The company also spends heavily on artificial intelligence and Reality Labs.

That creates both growth opportunities and higher costs.

How did Alphabet grow?

Alphabet’s business expanded around search, YouTube, cloud computing, advertising, and AI.

In 2025, Alphabet reported revenue of about $402.8 billion and net income of about $132.2 billion.

Its size today shows how much the business has expanded from its original search-engine roots.

How did Netflix grow?

Netflix changed from a streaming-growth story into a much larger global entertainment business.

In 2025, it reported revenue of about $45.2 billion and net income of about $11 billion.

Revenue increased 16% year on year, while net income increased 26%.

Its business now also includes advertising and other forms of content monetisation.

Past performance tells you what happened, not what will happen next.

Suppose Suresh sees that Apple delivered more than 1,000% over 10 years.

He invests only because of that historical return.

But his future result will depend on what happens after his purchase price, not what happened before it.

A company can remain highly profitable while its stock falls because:

• investors paid too high a valuation,
• revenue growth slows,
• profit margins weaken,
• regulation becomes stricter,
• competition increases,
• new technology disrupts the business,
• the market expected better results.

The SEC also warns investors that relying heavily on one stock or a narrow group can increase risk.

Do not start with the 10-year return table.

Start with the company’s current business and the price you are paying today.

Check:

1. Revenue growth: Is the company still growing at a healthy rate?
2. Profit growth: Is profit keeping pace with revenue?
3. Margins: Is the business becoming more or less profitable?
4. Cash flow: Does the company generate strong cash from operations?
5. Valuation: How expensive is the share compared with current earnings and expected growth?
6. Capital spending: AI and cloud infrastructure require large investments.
7. Business concentration: Check whether revenue depends heavily on advertising, devices, cloud, or subscriptions.
8. Portfolio concentration: Check how much of your total money is already exposed to US technology shares.
9. Currency risk: Indian investors also face USD-INR movements.
10. Tax and transaction costs: Overseas investing can involve different tax and brokerage rules.

The action is simple: treat past returns as history, then judge the company using current earnings, valuation, and risk.

FAANG stocks delivered strong long-term gains over the 10 years to September 2026, but each company followed a different path and suffered significant falls along the way. Apple, Alphabet, Netflix, Amazon, and Meta are also very different businesses today from what they were in 2016.

Use past performance to understand history, not to predict future returns. Before investing, check current business growth, profit, valuation, concentration, and the risks of investing in US equities from India.

Sources: U.S. Securities and Exchange Commission