It's time to rethink who's at the top of the Big Tech food-chain, Constellation Research Principal Analyst & Founder Ray Wang told Yahoo Finance Live

In 2013, when Jim Cramer of CNBC's "Mad Money" coined the term FAANG,

many of those companies were thought of as upstarts who'd taken their respective markets by storm

This was especially true of Meta — then Facebook — and Netflix.

 Wang said, both should be re-assessed. Meta, in particular, needs a new plan.

For Netflix, it's a question of growth, and what is and isn't on the table

he said. "Product placement should be where they are, plus the ability to do IP licensing

Wang stressed that Microsoft, which is often viewed as one of tech's leading legacy names, 

"Microsoft has more than just business-to-business and consumer – they've been able to manage both," he said.

 he said They're positioned well for the cloud and, of course, they've got their gaming business."