NEW YORK (TheStreet) -- When most people hear the word fang, they think of Dracula.
Well, this isn't a story about the living dead, drinking blood or having Mr. Burns turn into Dracula to make The Simpsons into his army of the undead.
It's about stocks -- and some really good investments.
FANG, an acronym created by TheStreet's Jim Cramer a few years ago, is representative of four of the most popular and best-performing tech stocks in recent memory -- Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOG) (GOOGL).
Three of the four companies, Amazon, Netflix and Google have recently reported second-quarter results that have been more than well received by investors. Following earnings, shares of Netflix and Google rose 18% and 16%, respectively. Amazon shares are set to open 21% higher on Friday, after the company posted better-than-expected second-quarter results.
Netflix is in the midst of global expansion, adding subscribers at a breakneck speed, as it seeks to become the preeminent subscription-service content company on the planet, challenging the dominance of Time Warner's (TWX) HBO.
Google, on the other hand, has had some difficulties in recent quarters, with perception that the core business was slowing and it was having difficulty making money with mobile.
New CFO Ruth Porat, former chief of Morgan Stanley (MS), laid out a clear plan to investors that was well-received, highlighting the fact that Google was going to rein in costs. Omid Kordestani, Google's chief business officer, highlighted the increased usage of YouTube, particularly on mobile, amid fears people were leaving to watch videos elsewhere.
Amazon has demonstrated that its business model, which is to continuously expand into new areas for the sake of short-term profits, is paying off.