The group of five megacap tech stocks dubbed the FAANGs endured its worst one-day loss Tuesday, largely on fears of increased regulatory scrutiny and restrictions, the Financial Times reported. As a result, their potential for future market leadership is being questioned by a growing number of investors.

So, where should investors turn? Perhaps to another set of five tech stocks dubbed the WNSSS, or winners, by MarketWatch. While an equal-weighted portfolio of the FAANGs purchased on Dec. 31, 2014 was up by an impressive 229% through March 27, 2018, the WNSSS group soared by a stunning 524% during the same period, MarketWatch notes. The WNSSS stocks include Weibo Corp. (WB), NVIDIA Corp. (NVDA), ServiceNow Inc. (NOW), Square Inc. (SQ) and Shopify, Inc. (SHOP).

Square and Shopify went public in May 2015 and November 2015, respectively. For them, MarketWatch's analysis of price appreciation starts at their IPO dates.

Weibo

This Chinese internet and social media company is projected to increase revenues by 55% in its current fiscal year, and 40% in the next, per MarketWatch. By contrast, MarketWatch adds, the FAANGs have had difficulties accessing the Chinese market. Moreover, projected EPS of $2.80 in fiscal 2018 would be up by 55% from the prior year. This implies a pricey forward P/E of about 42 times earnings, but the robust growth rate leads to an attractive PEG ratio of 0.76.

With 376 million users at the end of fiscal 2017, up 33% from the prior year, Weibo still has room for growth, given a total of about 700 million mobile internet users in China, per research cited by MarketWatch. "If this growth keeps up, there's a very good chance that Weibo will be giving [FAANG member] Facebook [ticker FB] a run for its money in a few years as the de facto social-media force on Wall Street," MarketWatch predicts.

NVIDIA

Best known as the producer of advanced semiconductors used in cryptocurrency mining and computer gaming, NVIDIA also is a leader in autonomous driving software and the technologies behind the booming market for cloud computing, MarketWatch notes. Indicating that NVIDIA is on track for 27% revenue growth and 35% profit growth in 2018, MarketWatch says that "NVIDIA has a footprint in just about every buzzworthy trend in tech." They add, "If [FAANG member] Apple [Inc. (AAPL)] owned the conversation about hardware and mobile tech a decade ago, then NVIDIA owns that conversation in 2018." (See also: 6 Big Tech Value Plays.)

ServiceNow

According to MarketWatch, ServiceNow is emerging as a leader in cloud computing, as well as in a lucrative area of tech focused on using data analytics to improve business processes and boost productivity. Revenues are growing at around 30% annually, and EPS by more than 50%, MarketWatch adds. In contrast to many of its midsized peers, MarketWatch calls ServiceNow "handily profitable" and observes that "this is a company run by top Silicon Valley talent."

Square

This mobile payments company is expanding its customer base from small local merchants to large businesses that each collect annual revenues of $500,000 or more through its platform, with the latter now representing 20% of their customer base, per MarketWatch. Transaction volume grew by 30% in 2017 to $18 billion, and revenue by 36% to $616 million, they add. While profitability is still at breakeven level, MarketWatch sees additional growth potential in Square's moves in financial services such as small-business lending.

Shopify

The company operates an e-commerce platform for small and medium-sized businesses. "In many ways, this is the most compelling growth story of 2018," says MarketWatch , citing projected revenue growth of 48% in 2018 and 37% in 2019, and the company's expectations that it will become profitable in 2018. "This is perhaps the only company that really knows how to compete with [FAANG member] Amazon[.com Inc. (AMZN)]," claims MarketWatch .

However, Citron Research, citing a report from Goldman Sachs Group Inc., concludes that increased privacy controls on Facebook will inflict serious damage on Shopify, per Smarter Analyst. Citron has been highly critical of Shopify, accusing it of unethical business practices, per the Motley Fool.