Bulls bet on this FANG stock

"Halftime Report" trader Pete Najarian spots unusual options activity in Netflix

Unlike you and me, tech companies are immune to the coronavirus.

Over the last two weeks, the biggest tech companies in the world reported their quarterly earnings. And while they showed signs of pain as the coronavirus pandemic took hold on most of the world in March, investors still rewarded them for their resilience in the current economic downturn.

Facebook shares popped as much as 10% following its earnings report last week. Google’s parent company Alphabet was up 7%. Netflix reported nearly double the amount of new subscribers it had anticipated for the quarter. Apple made up for of its lost iPhone sales with digital services like App Store sales and subscriptions.

The only sour spot in Big Tech’s earnings came from Amazon, which posted less profit than anticipated as it continues to spend heavily to combat the effects of the pandemic on its shipping and logistics network.

The so-called FAANG stocks (Facebook, Apple, Amazon, Netflix and Google/Alphabet), have proven to be far stronger than other industries ravaged by the pandemic. The stay-at-home orders across the world have people using technology to work remotely more than ever, providing a big boost and more optimism around technology.

And don’t sleep on Microsoft, which is often left out of the Big Tech conversation. It reported a 15% sales jump for last quarter, and is now the most valuable publicly traded company in the world.

Compare all that to the various other industries that have been gutted by the coronavirus. Over the weekend, Warren Buffett delivered the devastating news that he sold off Berkshire Hathaway’s shares in the four major airlines, for example. Retailers like Macy’s and JCPenney, which were struggling before the pandemic, are knocking on death’s door.

But Big Tech, which has expanded beyond making popular gizmos and gadgets to building the digital infrastructure the world needs to weather an unprecedented economic shut down, is looking stronger than ever.

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