The ‘FAANGs’ acronym for Facebook, Amazon, Apple, Netflix and Google was popularised in 2013 by CNBC’s Jim Cramer, who praised them for being “totally dominant in their markets”. But have they since lost their bite?
The five firms are renowned for being not just some of the biggest stocks in the S&P 500 but in the entire global market. Regarded as titans of their industry, all of them have enjoyed at least 300% increases in stock price over the past ten years, with the best performing, Netflix, seeing a staggering 2476% return since 2012, according to data from Morningstar. Will Rhind, founder and CEO of GraniteShares, described the FAANGs as having "quasi-monopoly positions" and had all significantly outperformed the S&P 500 in the last decade. Rhind said the US market has "been one of the be...
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