CNBC's Jim Cramer says it's time to remove Netflix from FAANG and perhaps insert Microsoft, creating FAAM instead.
"We gotta get Netflix the hell out of FAANG," Cramer said in an appearance on "Squawk on the Street." "I tell you that right now. I don't know how to do it."shares have jumped 34%, while Netflix has fallen 29%. Microsoft is the most valuable publicly-traded company, with a market cap of over $1 trillion, making it more than eight times bigger than Netflix.
FAANG, coined in 2013, originally didn't include Apple and was intended as a nickname for high-growth internet companies. The following year,"At that point we didn't know how great Satya was going to be," Cramer said. "It was pre-Satya. I came up with it pre-Satya."Cramer said earlier this week on "Mad Money" that he had soured of Netflix.
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