NEW YORK (TheStreet) -- Shares of Facebook, (FB) Amazon.com (AMZN), Netflix (NFLX) and Alphabet (GOOGL), or the FANG group, were all lower in late morning trading on Friday, despite the post-election rally seen in the DOW and S&P 500.
That's because these high-performing tech stocks don't need a "strong economy" to show positive year-over-year figures, TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning. Right now, analysts are looking for companies that they hadn't originally thought would have big year-over-year gains.
"We're looking for companies that have dramatic increases in numbers year over year. And it will not be as great with Netflix as it might be with Freeport-McMoRan (FCX). It's just year over year compares," he explained.
At this point, Facebook is "a very done trade" and so you wouldn't raise numbers on it because we have a new president, Cramer pointed out. However, you would raise numbers on a bank like JPMorgan (JPM) because of a new president.
"That's the belief, that you can raise numbers on a bank. You just can. For Bank of America (BAC) I could take numbers up dramatically for what's happened in the last four days. Dramatically," Cramer claimed.
Another big tech stock, Alibaba (BABA), is holding its annual Single's Day celebration today.
Some people may start to "rumble" that if President-elect Donald Trump creates a more protectionist environment with more tariffs, that Alibaba will decide it doesn't need to sell Apple (AAPL) products, Cramer commented. "I mean the communist party controls a lot of what happens, including I'm sure what merchandise gets sold on Alibaba, if they want to."