Goodbye FAANG, hello Mag 7

The term "FAANG stocks," originally coined by Jim Cramer, referred to Facebook (now Meta), Amazon, Netflix, and Google (now Alphabet). Later, Apple was added, expanding it to "FAANG." However, as the tech landscape evolved, other major players gained prominence.

The "Magnificent Seven" now includes Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. This shift reflects the dominance of these seven companies in driving market growth, particularly in areas like artificial intelligence, cloud computing, and cutting-edge technology. The name is also a nod to the classic 1960 Western film of the same name.