Popularity of FAANG stocks

The FAANG stocks $Facebook Inc(FB.US)$, $Amazon(AMZN.US)$, $Apple(AAPL.US)$, $Netflix(NFLX.US)$, $Alphabet-A(GOOGL.US)$ seem to have reached historical highs. These are without doubt the strongest and most stable companies in the stock universe. Should they be capable of increasing earning growth, they can still have further potential to enjoy higher price appreciation. For the ardent supporters of the FAANG companies, buying on dip would still be a potential and viable strategy. Even those who have sold FAANG stocks like  $Apple(AAPL.US)$ during its recent 52-week high can still buy the dip along the way during price pullback or correction so long as there is firm  conviction in the long term growth prospects and valuation of $Apple(AAPL.US)$ . Otherwise, it would be wise to wait on the sidelines for clearer indicators before taking further action. After all, the market does appear to be somewhat overheated currently and its continued upward momentum is not assured. It pays to be more prudent during this time. There could possibly be greater market volatility in the weeks ahead.
$S&P 500 Index(.SPX.US)$