The acronym was coined in 2013, when Microsoft arguably looked on track to be the next IBM (the year after, Ballmer departed and their turnaround started). So it kind of made sense at the time, maybe? It’s a bit odd now, granted.

They were, though now I feel Microsoft is actually a more diversified tech company than the FAANGs. Consumer software and hardware, enterprise software, cloud / Internet, gaming, open source (github, etc.)

Micorosft has alwyas been the hyper diversified tech company, they could lose an entire segments of their market and still truck along

The acroynm is based purely on stock performance during the time it was created. You could make the same argument for Apple but Apple was on the list from day 1.

Apparently jim cramer invented the term and AAPL wasn't on the list in 2013: https://www.cnbc.com/id/100436754

And I think this supplanted the earlier "four horsemen" terminology.

Originally: Intel, Cisco, Microsoft, Dell

Then (in 2007): Apple, Research in Motion (Blackberry), Google, Amazon

I think there's more nuance here, for example, Microsoft never succeeded in disrupting anyone but itself.

Others were major market movers and shakers.

Netflix wasn't historically an "internet company" either.

What do you think the "Net" in "Netflix" stands for?