Some of the biggest technology firms on Wall Street are poised to announce earnings this week though finding a favorite among them is akin to a parent specifying their favorite child, Ben Rogoff, Polar Capital Fund Manager, told CNBC on Monday.
Of the four so-called FANG stocks, three are reporting this week: , and .
When asked whether it was possible to choose a favorite from the three tech giants, Rogoff quipped, "Well they are all large holdings for us so… you know which one of your children is your favorite?"
He added that while he didn't have any valuation concerns for either Facebook, Amazon or Alphabet he warned that ultimately the challenge for each of these companies would come down to growth.
Google parent company Alphabet's quarterly earnings report could be the bellwether for technology stocks, . Advertising revenue for Alphabet could indicate if ad dollars are also flowing into smaller, tech companies.
Wall Street analysts forecast Facebook will earn about 11 percent lower profit this year than they did at the start of the quarter, possibly due to higher capital expenditures.
Last week, handily beat its earnings expectations and membership projections when it reported earnings and the stock surged to all-time highs.
Amazon has 'enormous' retail opportunities
"My biggest active position of the three trades, i.e. the one where I'm taking the largest bet against the benchmark, is Amazon," Polar Capital's Rogoff said.
He described Amazon's retail opportunities as "enormous" and suggested the continued success of its cloud business made for a "heady" combination.
Several experts have argued Amazon could be .
The FANG group of Facebook, Amazon, Netflix and Google parent Alphabet was coined in name by CNBC's . The four individual stocks tumbled in early June along with other technology names as the market grew anxious about a bubble formation, but recovered from their declines shortly thereafter.
— CNBC's Rebecca Ungarino contributed to this report