Move over FANG … it’s MAGA time.
Someone in the Trump White House is getting a well-deserved raise … and presumably a free box of Trump Steaks. Why? Welp, someone in the Trump camp brought their acronym A-game, realizing that MAGA stands for more than Make America Great Again.
Conveniently the first letter of each word in POTUS’ polarizing campaign slogan matches up perfectly with the first letter of each member of the trillion-dollar market cap club. Microsoft, Apple, Alphabet’s Google, and Amazon are residents of Trillville, USA (there are others outside of the US … we see you, Saudi Aramco) … meaning the total value of their outstanding shares exceeds one-trillion dollars.
Technically Donny Politics wasn’t the first to coin the financial phrase. That honor goes to the talking heads at CNBC (and Ronald Reagan in the political realm) who have been talking about the ‘MAGA trade’ since the four tech giants hit a combined $4T market cap.
Of course, Wall Street is no stranger to haphazardly grouping stocks together. Case in point: FANG … or FAANG, which stands for Facebook, Amazon, Netflix and Google or Facebook, Amazon, Apple, Netflix and Google … if you’re the kind of grown-ass man who sleeps outside of an Apple store for a new iPhone release.
Trump first used the phrase today in a press pool report to heap praise on the country’s economy and stock market: “For 144 days, we set a record stock market. It means 401Ks, it means jobs. Four trillion-dollar companies: Apple, Amazon, Google, Microsoft. You have MAGA. The trillion-dollar club.”
*USA chants erupt*
But wait, there’s more where that came from. The article above was written by The Water Coolest’s editorial team. The Water Coolest is a daily business news and professional advice email newsletter … with a hearty helping of unfiltered commentary (see above).
Sign up now to get the latest news and commentary delivered to your inbox every weekday at 6 AM EST.