The acronym "FAANG" refers to Meta Platforms (formerly Facebook), Apple, Amazon (NASDAQ: AMZN), Netflix, and (formerly Google).

They were given this acronym because they're considered some of the most influential companies in the tech sector, especially regarding their impact on the stock market due to high market capitalizations and growth rates. (I've recently seen people use "MANAMA" to account for Microsoft and the name changes of Meta and Alphabet.)

Tech stocks have rallied in 2023, largely due to artificial intelligence (AI) hype and the arms race that's since occurred. Despite being up 50% year to date (as of June 28), Amazon is still a great buy-and-hold stock to load up on before the next rally. Here's why.

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Source Fool.com