1,088.40 +2.05 (0.19%)
After hours: 5:52PM EDT
|Bid||1,085.25 x 800|
|Ask||1,088.40 x 800|
|Day's Range||1,083.87 - 1,114.35|
|52 Week Range||970.11 - 1,289.27|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||27.25|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Streaming services are driving growth in the music industry as questions persist about whether artists and songwriters are getting their fair share of the pie.
Alphabet is pledging not to sell any data that it collects as part of its proposal for neighborhoods in Toronto. Yahoo Finance's Dan Roberts, Melody Hahm and Myles Udland speak to Jeff Lagerquist.
Google Drive's offline capabilities are getting an upgrade. Currently, you can use Google Chrome to make your Docs, Sheets, and Slides available offline. On Tuesday, the company announced the launch of a beta test that will expand offline capabilities to other content as well, including PDFs, images, Microsoft Office files, and other non-Google file formats.
Cloud services are great until you can't access an important file while you'reon the road with frustratingly slow internet connection
(Bloomberg) -- Micron Technology Inc., the largest U.S. maker of computer memory chips, said it resumed some shipments to China’s Huawei Technologies Co., appearing to find a way around an export ban that threatens growth for the semiconductor industry.Micron, which explained the decision Tuesday as it reported earnings, studied the export restrictions and determined “a subset” of products it sells to Huawei are not subject to the rules, Chief Executive Officer Sanjay Mehrotra said on a conference call. That sent stock surging as much as 11% in extended trading.Micron was forced to halt shipments to one of its largest customers after the Trump administration banned Huawei from buying American technology. Micron makes chips used as the main memory in computers and as storage in mobile devices. Sales to the Chinese telecommunications company generate about 13% of Micron’s annual revenue, according to data compiled by Bloomberg.“We began those shipments in the last two weeks,” Mehrotra said. The company completed its own review of the various and complex restrictions on supplying the Chinese company and made its own decision, he said, without providing further specifics.Micron’s announcement helped other chip shares gain. The Boise, Idaho-based company’s stock had been among the most hardest hit this year by concern that a trade war between would cut U.S. companies off from their largest market, China. Mehrotra also said there are signs that demand is increasing as his customers work through their stockpiles of unused parts.Micron may be the first company to go public about continuing some level of business with Huawei after looking closely at the rules, according to Cross Research analyst Steven Fox. Even when companies have headquarters in the U.S., they may be able, through ownership of overseas subsidiaries and operations, to classify their technology as foreign, he said.“It’s one of those things that’s very hard to calculate,” Fox said. “There’s a partial amount of shipments that you should think about, not just with Micron, but with other companies in the supply chain too, as continuing.”Micron and others may be taking advantage of a loophole, according to Kevin Cassidy, an analyst at Stifel Nicolaus & Co. If less than 25% of the technology in a chip originates in the U.S., then it’s not covered by the ban, he said. That could lead to the transfer of patents to overseas entities, something the U.S. government would oppose, he said.Cassidy said he’s concerned that President Donald Trump’s administration might see the resumption of shipments to Huawei as undermining its goal of putting pressure on the Chinese in trade negotiations and take other actions.The U.S. Senate Foreign Relations Committee passed a resolution Tuesday designating Huawei and fellow Chinese equipment maker ZTE Corp. as threats to national security.Mehrotra has been telling investors that a much broader set of customers will help insulate the industry from the brutal downturns that have wiped out profitability in the past. He said that data-center owners, such as Alphabet Inc.’s Google and Amazon.com Inc.’s AWS, who had cut orders as they worked through stockpiles of unused components, are now starting to order again.Earlier, Micron Chief Financial Officer David Zinsner said the company’s revenue will be $4.5 billion, plus or minus $200 million, in the period ending in August. Analysts, on average, projected $4.56 billion. Micron reported sales fell 39% to $4.79 billion in the fiscal third quarter, topping analysts’ estimates of $4.68 billion.Profit, excluding certain items, was $1.05 a share in the period ended May 30. Analysts, on average, estimated 78 cents a share. The company projected adjusted profit of 45 cents a share, plus or minus 7 cents, in the current quarter. Analysts estimated 63 cents a share.Last quarter, the company said it would idle 5% of production for DRAM and NAND memory chips because of weaker demand and reduce its planned capital expenses in the fiscal year to about $9 billion. Micron said Tuesday it intends to “meaningfully” reduce its spending on new plants and equipment in its fiscal year 2020, in order to align increases in supply with demand levels.(Updates with comments from analyst in the sixth paragraph.)To contact the reporter on this story: Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
What Is a Blue Chip Stock? Blue Chip stocks, legend has it, are called that because the 'blue chips' held the highest value in games of poker. There is no definitive list of 'Blue Chip' stocks, though the genius of Charles Henry Dow and Edward Jones, who together formed Dow Jones & Co., which created the Dow Jones Industrial Average, has been considered the most reliable.
Needham's first-hand checks included conversations with 22 SPs currently on the HomeAdvisor platform along with 11 others who left the platform over the past year, Erickson wrote in a note. Churn was higher compared to prior conversations which may be related to SPs having a more favorable opinion or increased spend on Google.
As media reports keep arriving about the DOJ's antitrust probe of Alphabet/Google, it looks more and more as if Google's search content practices and strategy will get some attention from regulators. If this part of the DOJ's probe results in major changes to what content Google shows within search results, it might have only a moderate, direct impact on Google's search ad business, which is believed to remain by far Google's biggest profit source. The larger risk, though, could be the potential for such changes to affect how frequently consumers turn to Google Search to get the information and content that they're looking for -- particularly on smartphones.
(Bloomberg Opinion) -- How can investors use inexpensive index strategies yet still generate returns that outperform the markets? The solution to that particular challenge is the combination of fundamental and factor investing, according to Chris Brightman, chief investment officer and partner at Research Affiliates LL, and this week's guest on Masters in Business.Brightman notes that so-called smart beta allows for simple, transparent and inexpensive index strategies that are not market-cap weighted. He calls this a “simple, elegant way to pursue a contrarian approach” that is more akin to cap-weighted indexes than expensive active stock selection. It also has the benefit of keeping emotions out of the process of selecting and rebalancing individual equites. Bad behavior leads to an average annual underperformance of 200 basis points versus the broad indexes. By using a systematic approach to indexing, investors avoid this performance penalty. In our conversation, we discuss the lagging performance of value stocks, and why they tend to be so cyclical. Every long-term study that looked at the value-versus-growth question historically has confirmed value eventually will outperform growth around the world. The issue is that long time line, which eventually leads investors to becoming bored and shift away from value. Brightman adds that value’s outperformance comes from some assumption of additional risk, as well as investor’s behavior.Brightman was a member of the Investment Fund for Foundations, the Virginia Retirement System, the University of Virginia Investment Management Company, and Strategic Investment Group. Previously, Brightman managed money for the University of Virginia endowment.His favorite books are here; a transcript of our conversation is here.You can stream/download the full conversation, including the podcast extras on Apple iTunes, Bloomberg, Spotify, Google Podcasts, Overcast, and Stitcher. All of our earlier podcasts on your favorite hosts can be found here.To contact the author of this story: Barry Ritholtz at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- The U.S. Federal Trade Commission should force Alphabet Inc.’s Google to delete any personal information it has collected on minors as the agency probes the company’s data collection practices with regards to kids, according to Senator Ed Markey.Markey, a Massachusetts Democrat, said Tuesday in a statement that the FTC should require Google’s YouTube video platform to put in place new privacy policies in any settlement agreement the agency reaches with the company.The FTC is probing whether the world’s largest video site broke the Children’s Online Privacy Protection Act, which makes it illegal to collect information on minors and disclose it to others without parental permission, Bloomberg reported.Markey, who was a key force behind the passage of COPPA, said the FTC should make Google delete all data collected from children under 13, start a campaign to warn parents about minors’ use of YouTube and create ways to identify users under 13. He also said Google should be prohibited from launching any new service targeted at children until it has been approved by an independent panel of experts.“Companies of all types have strong business incentives to gather and monetize information about children,” Markey said. “Personal information about a child can be leveraged to hook consumers for years to come, so it is incumbent upon the FTC to enforce federal law and act as a check against the ever increasing appetite for children’s data.”YouTube is considering more changes to how it handles content for kids, according to the Bloomberg report. The company is mulling moving all videos for children to its separate YouTube Kids app, the Wall Street Journal reported. Such a drastic change is unlikely, a person familiar with the deliberations told Bloomberg.\--With assistance from Ben Brody.To contact the reporter on this story: Naomi Nix in Washington at email@example.comTo contact the editors responsible for this story: Sara Forden at firstname.lastname@example.org, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google sibling company Sidewalk Labs has revealed its master plan for the controversial Quayside waterfront development—and it’s a lot bigger.
(Bloomberg) -- Genies Inc. is one of those tech startups that looks to athletes and celebrities for some additional endorsement buzz. But what makes this company different is that it also wants their money. Genies offers superstars a chance to get in on the ground floor of something that might make them richer than they already are. At least, that’s the plan.First, let’s explain what Genies is. It’s a mobile app, which rolls out Monday, that allows you to build a three-dimensional cartoon version of yourself—one that looks and acts like you. So when you message friends, a mini-you mimics what you say. Among the Los Angeles-based company’s boosters is 21-year-old YouTube star Jake Paul, who once said he hopes to become social media’s first billionaire. “I see myself being capable of becoming a young Ashton Kutcher,” he said in an interview. “He used his celebrity to get into these deals. I was looking at him and I was, like, ‘Wait, I can do the same thing.’”Paul said he has more than $1 million invested in 15 companies, including $50,000 in Genies. “I don’t use social media a lot; I’m not your typical 21-year-old in that way,” he said, adding that he doesn’t even have a Bitmoji, the original personalized cartoon avatar. Last year, Bitmoji was the most downloaded iOS application worldwide, followed by Snapchat, which bought Bitmoji's parent company, Bitstrips Inc., in 2016 for $100 million.Nevertheless, Paul said he’s excited about Genies’s prospects. “With tech, you never know,” Paul said. “With Genies, I’m invested in Akash more so as the leader.”Akash Nigam is the 26-year-old behind the startup. Genies are much more than just goofy, cute cartoons, he said in an interview. “The next wave of [communication] in this age of internet is through avatars—a digital identity, an extension of you,” he explained. “We want Genies to represent your digital identity.”If you had asked Nigam two months ago how Genies would make money, he said, he wouldn’t have had an answer. Since then, the phone hasn’t stopped ringing. Companies started calling, asking if they could integrate Genies into their apps and websites. Now, he’s already raised $25 million in its two funding rounds.“We were just looking at it as exposure, but then they offered to pay,” Nigam said. The company has since sold millions of dollars’ worth of its software development kits, which integrate Genies into other platforms. Genies has already established brand partnerships, including one with Gucci. People can dress their Genies in Gucci clothing and, if they like the product, buy it via the Genies app. “It’s a great way to digitize the fashion world,” Nigam said. “We’re the only avatar of this caliber that can integrate into third-party services.” Why did Genies go from not to hot so fast? The involvement of sports stars and celebrities may have had something to do with it. They include professional basketball stars such as Russell Westbrook of the Oklahoma Thunder and Kyrie Irving of the Boston Celtics, pop-star Shawn Mendes, rapper 50 Cent, and professional football players Dez Bryant of the New Orleans Saints and Ndamukong Suh of the Los Angeles Rams.Suh is one of the highest-paid defensive players in the National Football League—and an avid investor.“Any free time that I can get, I’m talking to my advisers," Suh said in a telephone interview. “Anytime I have an opportunity, whether it’s in between meetings or during meeting breaks or on my drive home, I take the time to get on calls and make it useful.”The football star, who said he learned investment strategy from Warren Buffett, put $100,000 into Genies last year and said he plans to put in more. Like Paul, Suh was won over by Akash’s enthusiasm—and he really likes his avatar.“I think it’s spot-on to what I look like, especially from the sideburns perspective,” Suh said. But he’s also confident that Genies will make money; otherwise, he said he wouldn’t have invested.“Cash flow is king,” Suh said. “That’s something Mr. Buffett says all the time.”(Corrects spelling of Warren Buffett’s name in story published Nov. 19.)To contact the author of this story: Sophie Alexander in New York at email@example.comTo contact the editor responsible for this story: David Rovella at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A U.S. Senate panel on Tuesday questioned how major social media companies like Facebook Inc and Alphabet Inc's Google unit use algorithms and artificial intelligence to serve up new content to keep users engaged. The Senate Commerce subcommittee on Communications, Technology and Innovation heard from researchers who criticized the use of artificial intelligence to select content for users. Senators said much of that content is conspiracy theories, partisan viewpoints and misleading information on Google's YouTube, Facebook and elsewhere.
Which big tech stocks are looking good in 2019 as they approach new highs, and which ones look like they may be falling behind? Jeff Reeves gives his picks.
Is it a good time to buy Google stock? Amid falling profit margins, the stock is a bet on market dominance, like its peers among other so-called FANG stocks: Amazon, Netflix and Facebook.
Google is warning employees not to show up at the San Francisco Pride parade this weekend expecting to protest their employer while riding the official company float.
(Bloomberg Opinion) -- At a meeting last week of Alphabet Inc. stockholders, a man lobbed a simple query at the company’s chairman: Where is the CEO? Good question.He was told that Larry Page, the head of Google’s parent company and its co-founder, wasn’t able to to come to the annual session with shareholders, who asked tricky questions about the company’s approach to artificial intelligence ethics, treatment of its contract workers and its impact on Bay Area home prices. Page wasn’t at last year’s annual meeting, either. The stockholder sessions aren’t Page’s only glaring absence. It was news when Page and the company’s other founder, Sergey Brin, recently broke an unusually long attendance lapse at the traditional weekly Q&A for employees. U.S. lawmakers last year criticized Page for declining to appear at a hearing about exploitation of internet platforms. The senators’ outrage was a stunt, but they weren’t wrong to ask the same question as the Alphabet shareholder: Where is Larry Page?Page has always been an idiosyncratic executive. Both before and after he became CEO eight years ago, Page tended to focus on product strategy and ceded policy matters, budget-setting, shareholder outreach and many day-to-day functions to others. That role was formalized with the 2015 creation of the Alphabet structure and the installation of operating CEOs under Page — principally Google leader Sundar Pichai.The arrangement might have been a good idea at the time. But a storm is raging in Silicon Valley, and technology superpowers require accountable, visible and empowered leaders to advocate for their companies and assess the wider impact of their products. Instead, Alphabet has both a functional CEO in Pichai and a figurehead CEO who busies himself with far-off technology and is otherwise increasingly a ghost inside and outside of the company.Pichai is a capable leader of Alphabet’s only relevant business segment. But as long as the status quo continues, there will always be that niggling question: What does Larry think? Where is he? Page tended to shun the executive tasks he didn’t like, but he wasn’t always so hands-off. In early 2011, Page retook the CEO post he had given up in Google’s early years to Eric Schmidt, the hired hand and “adult supervision” for the young Page and Brin. For a while, Page was an active CEO, meeting with underlings and openly discussing efforts to slim bureaucracy and make Google operate more like a startup.Over time and particularly after the 2015 debut of Alphabet, Page’s official duties seem to have narrowed to a pinprick. Maybe it was a conscious decision to give Pichai more authority. Maybe Page was limited by his voice — vocal cord damage had reduced the volume of his speaking voice. Maybe Page grew reliant on Schmidt, who until he stepped down as executive chairman in early 2018 handled policy issues and other public duties. Whatever the reason, Page has been less actively involved as the personal and professional demands have increased for the other CEOs of U.S. technology superpowers. Facebook Inc.’s Mark Zuckerberg has become extremely practiced at apologizing. Jeff Bezos, the chief executive officer of Amazon.com Inc., had his personal life splashed in tabloid pages. Apple Inc.’s Tim Cook is at the White House so often he should have a West Wing frequent visitor card. Pichai is not the titular boss but has to do all the duties of one.(1) This is probably not what any of them imagined the job would be.I’m sure Page continues to do what needs to be done. John Hennessy, the Alphabet chairman, said at the stockholder gathering that Page attends every board meeting and meets frequently with him and other directors. At an event last fall, Pichai said that Page is very involved and that the Alphabet structure of a big-picture CEO with operating executives has worked as intended.Page’s role is to ponder future technologies, someone who pushes Alphabet to make big bets and scout promising talent. That’s essential to keep a technology company relevant. But does Page need to be the CEO of the world's fourth-largest public company to play this role? And Page seems to want to have it both ways. He wants the power of a CEO to be able to award on his own a $150 million stock payout to an executive under investigation for sexual harassment, according to a lawsuit, but he doesn’t want the responsibility of a CEO to show up in front of sometimes unhappy employees at regular meetings, to face questions from annoyed shareholders or to absorb verbal blows from members of Congress. (Alphabet has disputed the lawsuit’s characterization of Page’s role in the stock award.) As the technology industry faces growing government scrutiny, this may not be the time for a visionary, chimerical CEO. Everyone would like to do only the interesting parts of a job and skip the unpleasant or dull tasks. That’s not how adult life works, and that isn't how a public company should work, either. (1) It's a pop psychology explanation, but I wonder if the structure unwittingly removes some authority from Pichai. At the stockholder meeting last week, Pichai sat oddly silent for more than 20 minutes while others tackled sometimes angry questions about matters such as Google's driverless car project, the company's approach to ethics in artificial intelligence and compensation for the company's army of contract workers. Pichai may not have the temperament to graciously interact with irked shareholders and employees, or pal around with Washington power brokers as Schmidt did. Or maybe Pichai has a little less swagger because he is ultimately not the boss.To contact the author of this story: Shira Ovide at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.