CNBC's Jim Cramer says it's time to retire 'FAANG' to make way for a new name that represents the five most valuable technology stocks on the S&P 500.
"I say we replace Netflix with the far less episodic
Netflix shares climbed as much as 43% between the start of the trading year and early May. The stock is now up just 2.85% since it opened at $267.66 on the first trading day of 2019. Apple is the "north star" of the market, Cramer added. The host said he thinks Wall Street may be "concerned" about Amazon's spending habits. The e-commerce giant earlier this year earmarked $7 billion for video and music content in 2019.
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