Move Over, Amazon. Smaller Tech Stocks Surge

The run-up of so-called FAANG stocks—Facebook, Apple, Amazon, Netflix and Alphabet—has grabbed headlines this year. But at least 10 high-profile consumer tech companies, including Paypal, Grubhub and Match Group, have outperformed the five tech superpowers.

Some of the biggest consumer gainers are Square, which has rebounded from its lackluster 2015 IPO and is up 177% this year, and Wayfair, up 112% as of Monday’s close. Near the lower end is Etsy, whose stock has climbed 68% this year, more than rival Amazon, which has risen 55% and is the highest-performing FAANG stock.