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Also, why is there no M for Microsoft in that abbreviation?

probably lack of growth in their stock prices?

I think it's because of base compensation of employees, which still holds true still, because Microsoft pays way less then FANG.

Microsoft is the most valuable company in the world. When it comes to stock Facebook probably would be not in FANG anymore because of their drastic stock drop over last year.

A for Amazon is well-known for its terrible work env for the employees.

MSFT is up 25% YoY and 200% over the last 5. They’re at an all time high.

It’s been used in finance (as well as FANG) for a long time at this point. Often investors buy all of these companies at the same time to reduce volatility and get exposure to big tech.

Since at least 2015. Folks sometimes use FANG and overload the 'A' for Apple and Amazon.

They’ve been saying it for years on Chinese boards.