Wall Street Introduces FAB 10 and MANGOS as Microsoft Lags Peers
MSFT•Traders have introduced expanded megacap indexes like FAB 10, MANGOS and AI Big 10, adding SpaceX, OpenAI and Anthropic to the former Magnificent Seven roster. Microsoft shares are down over 10% in the past year, trailing peers Nvidia and Alphabet as market leadership shifts.
1. Emergence of New Megacap Nicknames
Wall Street strategists and ETF issuers have launched new group labels—FAB 10, MANGOS and AI Big 10—to reflect an expanded lineup of AI and technology leaders. These cohorts now include private innovators such as SpaceX, OpenAI and Anthropic alongside public giants.
2. Microsoft’s Relative Underperformance
Over the past 12 months, Microsoft shares have fallen more than 10%, underperforming counterparts Nvidia and Alphabet that have surged on AI optimism. This decline highlights growing investor scrutiny of Microsoft’s growth trajectory in the evolving AI landscape.
3. Implications for ETFs and Investors
New ETFs tracking the expanded megacap baskets could shift capital flows away from Microsoft toward frontier AI names and semiconductor firms like Broadcom, AMD and Micron. Fund adoption rates and performance spreads will be key metrics for investors reassessing Microsoft’s role in future portfolios.
