Cramer explained why he believes the FANG acronym is "dead." Sign up and learn more about the CNBC Investing Club with Jim Cramer https://cnb.cx/3Ei22n4 » Su...
facebook has 2 billion users and went up over 100% in the last 2 months
No, that never happened
not 2 month, 3 months - on nov 3 meta was $88.91
The group may be dead, but the companies comprising it are quite different. Facebook and Google are advertising companies.
I never really believed in Zuckerberg; he was carried by some very good investors early on, and did make some smart hires. When Sheryl Sandberg left or was booted, Facebook was now dependent on Zuckerberg, and now we have Meta. $13 billion down the scuppers for Second City redux.
Google had some very smart people running it, but they went to that unfortunate ownership structure designed to preserve control for a few people. And their culture of smarts meant that sales has never really been respected at Google. Thus I figured that they would get beaten out by Microsoft and AWS in all things enterprise.
Netflix was a good idea at first, but ultimately fell victim to the content v. distribution problem. Their balance sheet feels a bit like a ponzi scheme; they had to borrow money to keep scaling up, which makes some sense to me. But when it became clear that they had to start producing content, they had to come up with a lot more money to spend on crapshoots, which is usually not a winning strategy.
That leaves Apple, which has been a very good investment since Gil Amelio saved the company and brought back Jobs, which led to the iMac, iPod, iPhone, iEtc. Now it has Tim Cook, who is well-suited to Apple's development of its services arm. I'm not sure about the car project, though.
Cramer makes it sound like Amazon hasn't been cutting back on its workforce. Last month it announced and starting cutting back as much as 18,000 of its global workforce. Yes, that only amounts to about 1% of its workforce, but it is the largest cutback in their long history.
Yes, Facebook bounced, at ton, this week.
Been buying AAPL GOOGL TSLA TSM for months now. Thanks Cramer for giving me confidence that my strategy is going to be very profitable (it already has) and because Cramer is literally always wrong.
Muir and Reekie have falling out with Andy Young, get on first plane home from South Africa
Two Black teens may have discovered a proof for the Pythagorean Theorem!!!
NYT op-ed: Work-from-home is killing economic productivity in America
A Tyrese Cooper Was Killed in February 2023 in a Mall Gang Shooting
50th Cherry Blossom 10-mile this weekend w $50,000 bonus pool. Official discussion thread.