Collectively, the four large tech companies Facebook (Meta), Amazon, Netflix and Google (Alphabet), all listed on NASDAQ and currently (or formerly) believed by some market commentators to have strong prospects for future growth.
After the acronym was coined, Google's holding company became Alphabet Inc, but the FANGs acronym remained unchanged.
The holding company Facebook Inc subsequently changed its name - in 2021 - to Meta Platforms Inc.
Meta Platforms Inc continues to own the social media platform Facebook, which continues to be known and to trade as Facebook.
More broadly, the market sector including these companies and other similar businesses.