The Biden administration takes aim at Apple and Google
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Evercore ISI Removes Apple (AAPL) From Tactical Outperform List
February 3, 2023 11:30 AM ESTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $190.00 price target on Apple (NASDAQ: AAPL)
The analyst comments "We are removing AAPL from the Tactical Outperform list as the potential catalyst for our call took place yesterday during their earnings print. AAPL reported Dec-qtr results of $117B/1.88 vs. street at $124B/1.95 with sales declining 5% y/y due to headwinds from f/x (~800bps), production... More
Microsoft (MSFT) to include ChatGPT in Bing in coming weeks - Semafor
February 1, 2023 10:39 AM ESTMicrosoft (NASDAQ: MSFT) to include ChatGPT in Bing in coming weeks - Semafor
... MoreChatGPT on pace to be the fastest growing app in Internet history, ahead of TikTok - analyst
February 1, 2023 8:07 AM ESTChatGPT site traffic has continued to surge in January and is on pace to scale to more than 100 million monthly active users (MAUs), faster than TikTok, according to UBS analyst Lloyd Walmsley.
While the Chinese social media giant needed 9 months to hit 100M global MAUs, ChatGPT could achieve this goal in only 2 months as it was launched in November 2022. For... More
Snap's earnings may hold positive news for Meta, Google
February 1, 2023 6:19 AM ESTBy Sheila Dang and Nivedita Balu
(Reuters) - A rise in a key advertising metric for Snap Inc that reported an otherwise insipid quarter could bode well for Facebook owner Meta Platforms and Alphabet, analysts said on Wednesday.
Shares of the Snapchat owner fell 13% on a dour revenue forecast, which the company blamed on a weak economy and stiff competition. But Snap's direct response advertising business, which is key for market leaders Meta and Google, was a bright spot.
Sales from the business rose 4% in the fourth quarter, Snap said.
"Snap is impacted by the... More
After-hours movers: Snap and Match sinks on weak outlooks, AMD gains on EPS
January 31, 2023 5:24 PM ESTAfter-Hours Stock Movers:
Snap (NYSE: SNAP) 13% LOWER; reported Q4 EPS of $0.14, $0.03 better than the analyst estimate of $0.11. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.3 billion. For Q1/23, the company expects DAUs in the range of 382-384 million. On the monetization side, the company anticipates that the operating environment will remain challenging, as it expects the headwinds faced over the past year to persist throughout Q1.
Alphabet (GOOGL) a more defensive stock in 2023 - BofA
January 31, 2023 1:19 PM ESTAhead of Alphabet's (NASDAQ: GOOGL) earnings release on Thursday, February 2, BofA analyst Justin Post raised the firm's price target on the stock to $119 from $116, maintaining a Buy rating.
Post told investors in a research note that the firm is updating estimates for FX and the tech giant's recent cost-cutting.
"We are at revenue/GAAP EPS of $63.6bn/$1.20 vs... More
Alphabet (GOOGL) PT Raised to $119 at BofA Securities
January 31, 2023 12:38 PM ESTBofA Securities analyst Justin Post raised the price target on Alphabet (NASDAQ: GOOGL) to $119.00 (from $116.00) while maintaining a Buy rating.
... More