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What happened Shares of Apple (NASDAQ: AAPL) climbed higher on Monday, adding as much as 3.5%. At 11:42 a.m. ET, the stock was still up 3.3%.

Alphabet Inc is considering moving some production of Pixel phones to India following disruptions in China from COVID-19 lockdowns and Beijing's rising tensions with the United States, the Information reported on Monday, citing a source.

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The broader market has been stumbling for most of 2022, though it didn't officially find the sleeping bear's den until June. Now we find ourselves in September -- historically the worst-performing month of the year for the market, and already taking a toll on some stocks.

Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard Mega Cap Growth ETF (MGK) is a passively managed exchange traded fund launched on 12/17/2007.

Hollywood stars will gather on Monday night to toast the best of television at the annual Emmy awards, where back-stabbing drama "Succession" will battle South Korean sensation "Squid Game" for the top prize.

Apple (NASDAQ:AAPL) unveiled its latest iPhone 14 devices, along with new versions of the Apple Watch and Airpods earphones at a special event held on Wednesday.While we were expecting Apple to raise prices on the iPhone this year, given higher component prices and supply constra

The virtual reality (VR) market is still in its early stages, but it has the potential to become an important segment of the broader tech space as consumer and enterprise VR reaches an estimated $25 billion market size less than three years from now.

With Ray Wang, Principal Analyst and the Founder of Constellation Research, upgrading FAANG to MATANA, the obvious question is which tech stocks basket is a better play? A simple price performance comparison shows that MATANA had the upper hand in one year. Further, on average, analysts see a higher upside in MATANA stocks. However, investing is not about buying fancy acronyms. According to TipRanks’ data-driven Smart Score, only Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) in the MATANA list have a higher potential to outperform the market. 

But before we dig deeper, let’s examine why FAANG needed an upgrade.

Why the Rebranding? 

For years, FAANG stocks - Meta (previously Facebook) (NASDAQ:META), Apple, Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), and Alphabet (earlier Google) (NASDAQ:GOOGL) (NASDAQ:GOOG) – symbolized big tech companies. 

However, Wang, in a video interview with Yahoo Finance Live, suggested dropping Meta and Netflix from the big tech list and advised adding Microsoft, Tesla (NASDAQ:TSLA), and Nvidia (NASDAQ:NVDA) to the group. Together, these stocks are now known as MATANA. 

The move follows the underperformance of FAANG stocks in 2022. Blame the base effect for the slowdown in their growth or investors losing appetite for risk amid fears of an economic slowdown, FAANG stocks have lost their sheen. 

Specifically, Meta Platforms and Netflix are struggling to stay relevant to their consumers amid their changing preferences in the post-pandemic world and heightened competition. 

FAANG or MATANA: Which Is the Better Tech Play?

Built with TipRanks’ Stock Comparison tool, here is a summary of how FAANG stocks performed in the past year and what analysts recommend. 

The graph below shows that FAANG stocks, on average, are down over 34% in the past one year. Meanwhile, analysts’ average price target reflects an upside potential of over 25% in one year. 

The Stock Comparison tool shows that a portfolio of MATANA stocks have performed better than FAANG stocks in the past one year. For context, MATANA stocks, on average, are down about 2.2% during the comparable period, significantly outperforming FAANG stocks. 

Further, analysts’ average price target shows an upside of over 28% in the next 12 months.

Bottom Line

MATANA is slightly more diversified than FAANG. However, this shouldn’t matter much as the broader industry classification is the same, with these stocks being prone to similar risks.  

Furthermore, the above graph shows that only Microsoft and Apple stock sport an Outperform Smart Score on TipRanks in the MATANA list. Meanwhile, hedge funds are also bullish on only these two stocks. 

All in all, investors should focus on diversifying their portfolio with Top Smart Score Stocks across multiple sectors to lower risk and maximize gains. 

Read full Disclosure 

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Apple and Alphabet's Google are facing a probe over anti-competitive practices in Mexico after the country's former telecommunications chief filed a complaint, he said in a statement on Twitter on Friday.

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Online gaming firm Roblox Corp said on Friday it plans to launch 3D advertising on its platform next year, as it strives to diversify its revenue stream beyond in-game purchases.

Alphabet’s GOOGL division Google is consistently adding features to the video-streaming platform, Google TV.

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