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FANG is back to trouncing older 'gray chip' tech this month

Reed Hastings, Netflix
Tobias Hase | AFP | Getty Images

After a blockbuster Netflix earnings report and a breakout by Google shares, a basket of Jim Cramer's FANG stocks is trouncing a basket of older technology shares this month. Disappointing profit reports from Intel and IBM this week only added to the pain.

An equal-weight basket of FANG stocks is up more than 6 percent in October, compared to a 2 percent loss by an equal-weight basket of tech stocks that had their IPOs before 1990, according to CNBC PRO analysis using Kensho.