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The "FANG" acronym was coined by CNBC's Jim Cramer to group together four of the hottest tech names: Facebook Inc (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN), Netflix, Inc. (NASDAQ:NFLX) and Google ((parent company, NASDAQ:GOOG) (NASDAQ:GOOGL)).
For years, Apple Inc. (NASDAQ:AAPL) wasn't included in the list — but it is now with the creation of the "FAANG" acronym.
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Speaking as a guest on CNBC's "Squawk on the Street" Tuesday, Gene Munster was posed an interesting question: How can companies like Snap Inc (NYSE:SNAP), NVIDIA Corporation (NASDAQ:NVDA) or even Tesla Inc (NASDAQ:TSLA) achieve stardom like the FAANG group has?
FAANGSTN
For the time being at least, the group of hottest tech stocks will remain just Facebook, Amazon, Apple, Netflix and Google/Alphabet and won't be expanded to include Snap, Tesla and/or Nvidia.
Munster explained that Snap is a victim of Facebook's might and Snapchat's platform is showing signs of weakness based on its disappointing daily active user growth in the most recent quarter.
While Tesla is certainly a disruptor it may fall short of "FAANG"-worthy status but will nevertheless be an outperform over the next 10 years.
As for the final "N," Nvidia is well-positioned to be a pioneer in artificial intelligence and next-age technologies. Even though the stock has already performed "tremendously well," it will still prove to be a "big winner" over the many years ahead.
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Short Sellers Digging In On FANG Despite $3.3 Billion In Losses This Year
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.