Who needs Netflix? MAGMA is red hot and incinerates everything in its path.
From Jason Fernando's [outdated] "FAANG Stocks" posted last month on Investopedia:
The term was coined by Jim Cramer, the television host of CNBC's Mad Money, in 2013, who praised these companies for being “totally dominant in their markets”. Originally, the term "FANG" was used, with Apple—the second “A” in the acronym—added in 2017.
- FAANG is an acronym referring to the stocks of the five most popular and best-performing American technology companies: Meta (formerly known as Facebook), Amazon, Apple, Netflix, and Alphabet (formerly known as Google).
- In addition to being widely known among consumers, the five FAANG stocks are among the largest companies in the world, with a combined market capitalization of nearly $7.1 trillion as of Aug. 19, 2021.
- Some have raised concerns that the FAANG stocks may be in the midst of a bubble, whereas others argue that their growth is justified by the stellar financial and operational performance they have shown in recent years.
My take: It's simple. By market cap, the five MAGMA companies are the world's largest, with a combined market value of nearly $8.9 trillion.
UPDATE: Cramer is going with MAMAA, which also drops Netflix and has the virtue of using the new corporate ID for both Google (Alphabet, which nobody ever liked) and Facebook (Meta, which is just stupid.)
Cue the video: