It was the trade the Street couldn't get enough of in the beginning of the year. The high-flying "FAANG" names soared to record after record. But 2018 is shaping up to end with a very different story for Facebook, Amazon, Apple, Netflix and Google's parent, Alphabet.
All five stocks are set to close the quarter down double digits, and are all currently trading in bear market territory, with the exception of Alphabet which has fallen 18 percent from its 52-week high.
But as tech has turned over in tandem with the broader market correction, the sell-off could create an attractive entry point for investors to pick up stocks that may have been unfairly punished.
Two top strategists believe there's value to be found in the FAANG names heading into 2019. TradingAnalysis.com founder Todd Gordon is watching Apple, while Erin Gibbs, portfolio manager at S&P Global Market Intelligence, prefers Netflix.
"I'm already in Apple. I like the pullback here in Apple on the weekly," Gordon said Thursday on CNBC's "Trading Nation," referring to the stock's 200-week moving average.
He's watching $145 as a key level of support for Apple — about $11 lower than the stock's Thursday close of $156.15 — noting that if it dips below that level he'll "probably cut" his position.
That said, Gordon is seeking protection since he thinks jitters in the broader market could drag the tech giant lower. "I am hedged. I do have concerns about the downside in the overall market," he said.
Gibbs, on the other hand, prefers Netflix among the FAANG names. She likes the company due to its growth potential, and also because it doesn't face the same regulatory pressures as Facebook and Alphabet, for instance.
"Their [Netflix's] growth really is exceptional," she said on "Trading Nation." "They're able to grow earnings not only from increasing subscriber growth, but they're actually able to raise prices, which is kind of unique in this environment."