Jim Cramer, the founder of TheStreet, noted on Mad Money Wednesday that all of the FAANG stocks (Cramer's acronym for Facebook, Amazon, Apple, Netflix, and Alphabet) deserve the benefit of the doubt.
Amazon continues to innovate, Apple continues to diversify its non-iPhone products, and although Cramer tweeted Wednesday that Netflix is the weakest of the FAANG stocks, he believes it will come back.
Cramer also said investors betting against FAANG are betting against a moving target. "FAANG isn't dead" is the message that Cramer has for investors.
Apple (AAPL) - Get Report sprung into action Tuesday as the computer giant unveiled a series of changes to its products during "Spring Loaded," its first product-reveal event of the year. The event was streamed online due to the COVID-19 pandemic.
The company unveiled the iMac equipped with the M1 chip, the iPad Pro now equipped with the M1 and 5G-capable, an iPhone accessory designed to locate keys and other items called AirTag, and the first purple-colored iPhone, which will be going into the iPhone 12 family.
Amazon (AMZN) - Get Report said Wednesday that it would begin using biometric technology as a method of payment at Whole Foods stores in Seattle. The technology, called Amazon One, enables shoppers to pay for their items by scanning their palms.
The system associates a credit card with a customer's palm print. It's a contactless alternative to cash and card payments, the Seattle tech and online retail giant said in a statement.
Amazon and United Launch Alliance, a provider of rocket-launch services, said on Monday that the Seattle tech and online retail giant secured nine Atlas V launch vehicles to support Project Kuiper.
That project is designed to “provide fast, affordable broadband in places where access is unreliable, expensive, or doesn’t exist at all” through a constellation of 3,236 advanced satellites in low Earth orbit, the companies said.
Additionally, Ambow Education (AMBO) - Get Report, a provider of educational and career-enhancement services in China, said it had expanded a strategic partnership with Amazon. The partnership has launched artificial intelligence training for teachers.
For more in-depth coverage of the FAANG stocks, including trading recommendations and investment strategies, follow the experts on Real Money.
Here is a list of the FAANG stocks to watch and their performance by percentage change over the past five days amid trading Friday:
Facebook | -3.67% 5-Day
The social media platform also plans to introduce its own version of the audio-only social network Clubhouse, in addition to podcast discovery and distribution, aided by Spotify (SPOT) - Get Report, the publication added.
Some of the products Facebook has planned will not appear for some time, sources told Recode. But the publication detailed some of those products.
TheStreet Quant Ratings rates Facebook as a Buy with a rating score of A-.
Apple | -1.90% 5-Day
Apple (AAPL) - Get Report reportedly is preparing a major revamp of its mobile software that will include an upgrade to how users handle notifications, a redesigned iPad home screen, an updated lock screen, and additional privacy protections for its flagship devices.
Bloomberg reported Thursday that the in-development changes are planned to be included in major iOS 15 and iPadOS 15 software updates for the iPhone and iPad. Apple will announce the software updates - codenamed Sky - at its upcoming Worldwide Developers Conference beginning June 7, according to Bloomberg.
Apple also plans to bring back the Parler alt-right social-media platform to the App Store, media reports say. Apple had said in January that Parler had “not taken adequate measures to address the proliferation of these threats to people’s safety,” the publication added.
But, Apple’s senior director for government affairs for the Americas, Timothy Powderly, wrote in a letter to the lawmakers saying Parler's "proposed update app will be approved for reinstatement to the App Store."
TheStreet Quant Ratings rates Apple as a Buy with a rating score of A.
Amazon | -2.07% 5-Day
Clean Energy Fuels Corp. (CLNE) - Get Report reached an agreement with Amazon (AMZN) - Get Report to provide low- and negative-carbon renewable natural gas for the tech company. The fuel will be provided to Amazon Logistics, the company's shipping, and delivery service.
The union seeking to represent Amazon workers at an Alabama warehouse filed objections over the tech and online retail giant's conduct during the recent union election.
In a filing with the National Labor Relations Board, the Retail Wholesale and Department Store Union charged that the Seattle company interfered with the right of its Bessemer, Ala. employees to vote in a free and fair election. Amazon workers rejected the union.
TheStreet Quant Ratings rates Amazon as a Buy with a rating score of B.
Netflix | -7.36% 5-Day
Netflix (NFLX) - Get Report reported earnings and said that it expects to add around 1 million new subscribers to its streaming service this quarter, a figure that came in below forecasts of around 4.8 million. The estimate followed a weaker-than-expected March quarter tally of 3.98 million, which also missed analysts' estimates of a 6.25 million total, TheStreet's Martin Baccardax noted.
"In terms of Q1 performance, it really boils down to COVID, frankly (which) continue to have a big impact on the world," CFO Spencer Neumann told investors on a conference call late Tuesday. "For us, at a minimum, it creates just some short-term kind of choppiness in some of the business trends that we see."
TheStreet Quant Ratings rates Netflix as a Buy with a rating score of B.
Alphabet | -1.43% 5-Day
Technology titan Alphabet (GOOGL) - Get Report on Monday received a 7.7% share-price-target increase, to $2,575 from $2,390, from J.P. Morgan, based on fundamentals. Analyst Doug Anmuth affirmed his overweight rating on the Mountain View, Calif., parent of Google.
“We remain positive on Alphabet, as we believe it is well-positioned across ads, clouds, and a number of other key initiatives to both drive and benefit from long-term digital trends,” Anmuth wrote.
Jim Cramer said that the chatter around breaking up Alphabet is always going to be there to muddy the water, but the point of his Stop Trading segment was that he believes that investors should buy this stock based on earnings. And this comes after the company's price target was raised by JPMorgan.
TheStreet Quant Ratings rates Alphabet as a Buy with a rating score of A.