https://www.cnbc.com/2018/07/30/fang-focused-tech-etf-has-new-biggest-holding-cash.html

The FANG group of stocks has entered a correction, down more than 10 percent from their high, and they have taken down most of the tech sector with them in the past week. The biggest questions for investors will be to determine when the selling will end, and if the tech stocks — Facebook, Netflix, Amazon and Alphabet (Google) — which have dominated market returns in recent history, will again be trading at attractive valuations. The current portfolio holdings of an ETF dedicated to focused tech-stock investing suggests that it is not time to buy into the tech dip yet.

Into earning season, the tech sector had contributed roughly 67 percent of the S&P 500 return, led by Amazon, Microsoft, Apple, Netflix and Facebook, according to S&P Global data, as of July 13. Google was also in the top 10 among S&P 500 stocks, providing the biggest contribution to the S&P 500 return. The only non-tech stocks were MasterCard and Visa. Facebook's one-day decline last week of roughly $120 billion was the largest single-day decline in tech history. However, two of the top 10 one-day declines of all time occurred earlier in 2018 and hit other tech giants, Amazon and Alphabet, both of which ultimately rebounded strongly.