Oh MAMAA! Apple, Microsoft And 3 More Of The Largest Companies In Jim Cramer's FAANG Replacement Are Reporting This Week

Zinger Key Points
  • Five of the largest public companies report quarterly earnings this week.
  • The five companies are part of a stock acronym created by Jim Cramer in 2021.
Oh MAMAA! Apple, Microsoft And 3 More Of The Largest Companies In Jim Cramer's FAANG Replacement Are Reporting This Week

Five of the largest technology companies in the world by market capitalization will report quarterly earnings this week. Along with being technology companies and large cap companies, the five stocks also belong to an acronym coined by one of the most famous financial personalities.

What Happened: For years, one of the most widely recognized stock acronyms was FAANG, which represented five high growth technology stocks in Facebook, Apple Inc AAPL, Amazon Inc AMZN, Netflix Inc NFLX and Google.

With two of the five changing names and Netflix exiting a period of high growth, CNBC host Jim Cramer made the announcement one year ago that he was coining a new market acronym: MAMAA.

The holdings represented by the acronym Cramer coined in October 2021 are Meta Platforms META, Apple, Microsoft Corporation MSFT, Amazon and Alphabet Inc GOOG GOOGL.

The acronym represents companies that are “constantly reinventing themselves,” Cramer said. The new acronym replaced Netflix with Microsoft. Cramer said all five companies in the acronym are “poised for long-term success.”

Cramer highlighted Facebook’s shift in name and focus on the metaverse and virtual worlds.

“In the future, we’re going to experience the internet in 3D and Facebook’s commitment to virtual and augmented reality will make it an integral player of the metaverse, just as it is an integral player on social media,” Cramer said.

Here is a look at how the companies rank in terms of market capitalization among publicly traded companies:

  • Apple #1: $2.39 trillion
  • Microsoft #3: $1.83 trillion
  • Alphabet #4: $1.33 trillion
  • Amazon #5: $1.21 trillion
  • Meta #14: $348.4 million

Related Link: Want To Bet Against Jim Cramer? Man Who Took On Cathie Wood Files To Offer A New ETF To Do Just That

Why It’s Important: Some investors questioned the acronym from Cramer, particularly around why companies like Tesla Inc TSLA and its $644-billion market cap and sixth-place position aren’t included. Ultimately the acronym includes five of the largest companies and has an easy to remember series of letters.

With investors tuned into the busy earnings season, a look at the calendar for the week of Oct. 24, 2022 shows that all five of the MAMAA components report quarterly earnings this week.

On Tuesday Oct. 25, Microsoft and Alphabet both report after market close. On Wednesday Oct. 26, Meta Platforms reports earnings after market close. On Thursday Oct. 26, Apple and Amazon both report earnings after market close.

Tesla reported financial results last week and saw shares fall after missing revenue estimates from analysts.

Snap Inc SNAP beat revenue and earnings per share estimates from analysts in its earnings report last week, but saw shares fall after pulling forward looking guidance. Meta and Alphabet both traded lower in sympathy to Snap last week.

The earnings reports from these five companies could provide clues of the overall health of the markets and several global sectors.

Microsoft could provide a look at corporate spending for businesses and offices with its suite of products. The company’s report on its Xbox division could also serve as a gauge to the gaming market.

Reports from Alphabet and Meta could provide another look at the advertising market after Snap’s report last week.

The reports from Apple and Amazon could help provide a look at overall consumer spending. Is there a cutback in higher priced items like iPhones during periods of high inflation? 

Amazon could also provide a look at the streaming market and the health of media companies with exposure to National Football League games.

Benzinga will break down details from all the earnings reports with articles and also with headlines on Benzinga Pro. Keep it locked to Benzinga during this busy earnings season.

Photo via Shutterstock.

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