Interesting they didn't include Netflix. Morgan Stanley talks about the FANG stocks, meaning FB, Apple, Netflix, and Google, and I usually take issue with that for not including Amazon.
http://blogs.barrons.com/techtraderdaily/2015/12/22/still-a-...
I have a very 'armchair' perspective, but when I think about Apple and networking I think about iMessage and iCloud photo storage and that's it
Netflix is there too, tho... Maybe some folks are betting the international thing won't work. hmm.
http://online.wsj.com/mdc/public/page/2_3062-nasdaqshort-hig...
Then again, the line for "tech company" is beginning to blur, since every company is so heavily reliant on technology.
With the likes of HBO launching their own services to distribute their own original content, they have relatively little need for Netflix. Netflix, on the other hand, is nothing without good content, and in the face of declining third party content it has little choice but to move into creating its own to remain relevant. And then suddenly it's "just another" content producer, instead of "the" platform.