FAANG is an acronym for the big tech giants, namely: Facebook, Amazon, Apple, Netflix and Alphabet (Parent company of Google). These companies need no introduction and have been dominating the digital world for years.
Amid the coronavirus pandemic throughout 2020, the world has increasingly been using digital solutions. Online shopping, online meetings and excessive social media are just a few examples of it. On the back of this, FAANG companies have seen their share prices increase by nearly 50% in 2020. Amazon, Apple and Alphabet have already become trillion-dollar companies.