GOOG Jan 2022 1060.000 put

OPR - OPR Delayed Price. Currency in USD
69.50
0.00 (0.00%)
As of 2:24PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close69.50
Open70.80
Bid50.20
Ask59.50
Strike1,060.00
Expire Date2022-01-21
Day's Range69.50 - 69.50
Contract RangeN/A
Volume10
Open Interest14
  • India seeks new regulator for non-personal data
    TechCrunch

    India seeks new regulator for non-personal data

    India should set up a data regulator to oversee how companies collect, process, store, monetize and even destroy non-personal data (or data that has been anonymized), a panel tasked by New Delhi has recommended in a draft report. The eight-person panel said that companies such as Google, Facebook, Amazon, and Uber have benefited from a combination of “first mover advantage,” “sizable network effect” and “enormous data” that they have collected over the years. This dominance has “left many new entrants and startups being squeezed and faced with significant entry barriers,” said the draft report, which has been made available to industry players for consultation before it is submitted to the nation's IT ministry next month.

  • Apple $2 trillion? This chart might have you rethinking your investment
    MarketWatch

    Apple $2 trillion? This chart might have you rethinking your investment

    Apple shares opened the week with another strong push to the upside, rallying toward a fourth straight record and approaching a $2 trillion valuation. Will it last?

  • Investopedia

    Top 10 S&P 500 Stocks by Index Weight

    These are the top 10 most heavily weighted stocks in the S&P 500 Index. See which stocks fell in the rankings, and which rose.

  • Google to Spend $10 Billion in India
    Motley Fool

    Google to Spend $10 Billion in India

    Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) says its Google division is going to make a big bet on India's digital growth by investing $10 billion in that country over the next five to seven years. Speaking on the company's annual Google for India webcast, CEO Sundar Pichai said, "We'll do this through a mix of equity investments; partnerships; and operational, infrastructure, and ecosystem investments." Second only to China with 500 million internet users, India is attracting massive investments from the largest U.S. tech companies.

  • Tencent (TCEHY) in Exclusive Talks to Buy Gaming Firm Leyou
    Zacks

    Tencent (TCEHY) in Exclusive Talks to Buy Gaming Firm Leyou

    Tencent's (TCEHY) expansion strategy to take China-based gaming firm, Leyou Technologies Holdings Ltd. private is expected to stir up competition in the video gaming space.

  • Alphabet's (GOOGL) Loon Provides Internet in Rural Kenya
    Zacks

    Alphabet's (GOOGL) Loon Provides Internet in Rural Kenya

    Alphabet's (GOOGL) Project Loon launches Internet service in Kenya using Loon balloons and its underlined technology.

  • Google supports OECD engagement on digital taxes, CEO Pichai says
    Reuters

    Google supports OECD engagement on digital taxes, CEO Pichai says

    Alphabet Inc's Google supports a multilateral solution for taxing digital services that is under discussion by the Organisation for Economic Cooperation and Development (OECD), its chief executive Sundar Pichai told Reuters in an interview. The OECD talks involve over 100 countries on a major rewrite of global tax rules to bring them up to date for the digital era, but they have so far not produced results as the negotiations have been complicated by the coronavirus pandemic. The United States has already initiated investigations of digital services taxes adopted or being considered by countries such as France, India and Turkey, saying it discriminates against U.S. tech firms.

  • Google To Invest $10 Billion For Digital Push In India
    SmarterAnalyst

    Google To Invest $10 Billion For Digital Push In India

    Alphabet Inc’s Google (GOOGL) announced on Monday that it will invest about $10 billion into India over the next 5-7 years through a mix of equity investments, partnerships, and operational, infrastructure investments.The investment will be made through its so-called India digitalization fund as the search giant seeks to tap the country’s fast-growing and unsaturated digital market.“This is a reflection of our confidence in the future of India and its digital economy,” said Google CEO Sundar Pichai. “Our goal is to ensure India not only benefits from the next wave of innovation, but leads it.”Pichai added that “low-cost smartphones combined with affordable data, and a world-class telecom infrastructure, have paved the way for new opportunities”. In 2004, Google opened its first offices in India in Hyderabad and Bangalore.Investments will focus on four areas important to India’s digitization, including affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, or Punjabi;  empowering businesses as they embark on their digital transformation; and leveraging technology and AI in areas like health, education, and agriculture.Shares in Google have fully recovered since dropping to a low in March and are now trading 15% higher than at the start of the year. The stock advanced about 1% to $1,552 in Monday’s pre-market trading.Indeed following the rally, the stock’s upside potential now looks more limited. The average analyst price target of $1,554.33 indicates shares are almost fully priced and have a mere 1% to advance over the coming year. (See Alphabet’s stock analysis on TipRanks)Meanwhile, five-star analyst Brian White at Monness projects some downside potential in the shares amid expectations that Alphabet’s earnings will be depressed in the coming quarters and revenue growth will be well below historical trends due to the impact of the coronavirus pandemic.“For the foreseeable future, we anticipate Alphabet will struggle with weak digital ad spending trends and other headwinds…including uncertainty over the impact of recent ad boycotts and anti-trust investigations,” White wrote in a note to investors. “However, we believe the stock remains inexpensive and represents a core holding as this crisis accelerates the digital transformation trend.”White has a Buy rating on the stock with a $1,420 price target (7.7% downside potential)Overall, the Wall Street rating outlook for Google remains bullish. The Strong Buy analyst consensus boasts 28 Buys versus 1 Hold.Related News: Google Cloud Forges Multi-Year Deal With Renault Apple’s Integrated Ecosystem Takes the Cake, Says Top Analyst Game Consoles Will Provide Additional Boost to AMD, Says Top Analyst More recent articles from Smarter Analyst: * Pfizer, BioNTech Score Fast Track Status For Covid-19 Vaccine Candidates * Disney World Cautiously Reopens; Analyst Optimistic On Outlook * Equillium Explodes 260% On Positive Covid-19 Results; India Approval * Alibaba Co-Founder Jack Ma Reduces Stake To 4.8%

  • MarketWatch

    Amazon, Alphabet stocks rise toward records after Mizuho lifts price targets

    Shares of Amazon.com Inc. surged 1.9% and Alphabet Inc. rose 0.9% toward record highs in premarket trading Monday, after Mizuho analyst James Lee raises his price targets, citing the ramp in cloud spending in the financial services, retail and health care industries. Lee raised his target on Amazon's stock by 11% to $3,450 and on Alphabet's stock by 5.8% to $1,650, while keeping his buy ratings on both. "Demand in key verticals such as financial services and retail is accelerating, for the migration to cloud," Lee wrote in a note to clients. "For healthcare, which has been lagging in cloud adoption, we believe it reached an inflection point recently as hospitals are migrating to cloud due to increased demand for telemedicine, CRM and patient database management." Amazon's stock, which has gained in 7 of the past 8 sessions, has soared 47.5% over the past three months through Friday, while Alphabet shares, which have gained in 8 of the past 9 sessions, has run up 27.2%. In comparison, the S&P 500 has climbed 15.3% the past three months.

  • Is Salesforce Stock A Buy Amid A Rising Tide For Software Growth Stocks?
    Investor's Business Daily

    Is Salesforce Stock A Buy Amid A Rising Tide For Software Growth Stocks?

    CRM stock has popped over 20% in 2020 amid strength in digital transformation spending. Still, many software growth stocks are doing better during Covid-19.

  • Financial Times

    Google plans to invest $10bn in India

    Google has said it plans to invest $10bn in India in the coming years, including in infrastructure and equity investments, as Silicon Valley companies jostle for position in one of the world’s fastest growing internet markets. Sundar Pichai, chief executive at Google and its parent company Alphabet, announced the scheme after speaking with India’s prime minister Narendra Modi on Monday. “This is a reflection of our confidence in the future of India and its digital economy,” Mr Pichai said at an online event, announcing the fund.

  • CEO Pichai Says Google Will Invest $10 Billion in India
    Bloomberg

    CEO Pichai Says Google Will Invest $10 Billion in India

    (Bloomberg) -- Google said it plans to spend $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.Sundar Pichai, who was born in the country and is now chief executive officer of parent Alphabet Inc., made the announcement at the annual Google for India event via video conference. He said the outbreak of the coronavirus has made clear the importance of technology for conducting business and for connecting with friends and family.“This is a reflection of our confidence in the future of India and its digital economy,” he said of the India Digitization Fund.The $10 billion will be invested in partnerships, operations, infrastructure, the digital ecosystem and equity investments. Google said the effort will focus on several key areas:Enabling affordable access and information for every Indian in their own language, including Hindi, Tamil and PunjabiBuilding new products and services that are relevant to India’s unique needsEmpowering businesses as they continue or embark on their digital transformationLeveraging technology and artificial intelligence for social good, in areas like health, education, and agricultureGoogle, founded in 1998 in Silicon Valley, entered India six years later with offices in Bangalore and Hyderabad. Its focus at the time was search services to help people find relevant information on everything from Bollywood news to cricket scores, Pichai said.The India business has since grown into one of the company’s most important. The country now has more than 500 million internet users, second only to China, with growth that has drawn all the American technology giants.The U.S. search giant has show signs of struggling in other markets in recent months. In April, Pichai told employees in an email that Alphabet would slow hiring for the remainder of the year as it battled an advertising slowdown from the coronavirus.“The entire global economy is hurting, and Google and Alphabet are not immune to the effects of this global pandemic,” he wrote.This month, Google abandoned plans to offer a new cloud service in China and other politically sensitive countries due in part due to concerns over geopolitical tensions and the pandemic, Bloomberg News reported.Meanwhile, India has seen a surge of foreign interest in its digital economy. In the past few months, investors including Facebook Inc., Qualcomm Inc. and Intel Corp. have put about $16 billion in the digital services unit of India’s largest conglomerate, the retail-to-telecom giant Reliance Industries Ltd.Google, Facebook, Amazon.com Inc. and others are plowing billions into the market to gain users and set the foundation for future revenue growth. The country is fertile ground as the companies vie to become the gateway for first-time internet users going online to buy products, stream content, find information and make payments.In the last decade, Google has successfully launched several products in India, including a Google internet Saathi service to bring women in rural areas online and its popular Google Pay service.“This mission is deeply personal to me,” Pichai said. “When I was young, every new piece of technology brought new opportunities to learn and grow. But I always had to wait for it to arrive from someplace else. Today, people in India no longer have to wait for technology.”(Updates with additional detail from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Big Tech Drives the Stock Market Without Much U.S. Help

    (Bloomberg Opinion) -- The stock market has been on a tear for the past three months, and Big Tech gets much of the credit.But how can this possibly be when the coronavirus has inflicted so much damage on the U.S. economy, with the highest unemployment since the Great Depression and gross domestic product headed into a black hole? And anyway, it's not as if tech is untethered from the economy.Yet, maybe tech isn't all that dependent on growth in the U.S. Compared to the rest of the world, and for the first time in ages, many wealthy industrialized countries are doing better -- and in some cases, much better -- than the U.S. Nations such as Japan, South Korea and Germany not only have managed to contain the pandemic, but their economies are well ahead of the U.S.'s into their re-openings. For the past five years, a small group of tech stocks has had an outsized influence on U.S. markets. Two-thirds of the gains in the S&P500 have been driven by just six U.S. companies -- Facebook, Amazon, Apple, Netflix, Google (Alphabet) -- the so-called FAANG stocks -- and Microsoft. An index of those six stocks is up more than 62% since the March lows, while the S&P 500 is up about 40%.Overseas markets may very well be a key reason shares of the biggest U.S. tech companies are powering higher. These tech companies derive a surprisingly large share of their revenue from foreign markets. According to Standard & Poor's, companies in the S&P 500 derived 42.9% of their sales from overseas markets in 2018 (2019 data is not yet available).But this share is much higher for the big tech companies: Apple generated more that 55% of its revenue outside the U.S. in the year ended in September; in some quarters, overseas accounted for as much as 60% of revenue. International accounted for 54.5% and 53.8% of Facebook and Alphabet revenues, respectively. For Microsoft and Netflix, the split is about half domestic and half overseas (49.0% and 49.4%, respectively). Amazon is the Big Tech exception, generating a sizable majority of its revenue within the U.S.What make overseas so important, though, is because that's where the growth is. Netflix had revenue growth of 21% in 2019, but the domestic side was a laggard at just 7%. Facebook, meanwhile, now has more users in India than in the U.S., with Indonesia and Brazil growing fast. For Alphabet, Asia and Latin America have produced faster revenue growth than the U.S.It isn't a coincidence that these companies that are so reliant on the rest of the globe have seen their stock prices do well. The Covid-19 numbers suggest that much of the world is way ahead of the U.S. not only in terms of managing the pandemics, and that their economies are recovering faster.As of July 9, globally, there were more than 12 million confirmed cases of Covid-19 and almost 550,000 deaths. In the U.S. those figures were 3 million confirmed cases and 132,000 deaths. This data is a report card on how well the country is managing the pandemic: The U.S. has 4.2% of the world’s population, but 25% of the infections and 24% of the deaths.And yet, even this national incompetence has worked to the advantage of the Big Tech companies. All they require of their customers is a computing device and a network connection; users are not limited by geography -- either domestically or internationally. Nor do users need to have a physical presence at an office.Some companies are well positioned to survive the pandemic lockdown, thriving during an era of remote work and social distancing. Many of these same companies are well positioned to benefit from the rest of the world’s economic recovery. As it turns out, tech companies can profit both from the U.S.'s shutdown and a recovering Europe and Asia. It is a very effective one-two punch. It explains so much of the market’s gains.This 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 is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    The Streaming Wars Could Become a Battle of Tech Giants. Here’s Why.

    In 2020, media companies can’t avoid streaming. As cord-cutting accelerates, major media companies need to have direct-to-consumer (DTC) apps, analyst Richard Greenfield writes. For instance, while HBO Max launched in May, consumers still can’t get it on (ROKU) (ticker: ROKU) or (AMZN)’s (AMZN) Fire TV platforms.

  • Alphabet's Google commits $10 billion to accelerate digitization in India
    Reuters

    Alphabet's Google commits $10 billion to accelerate digitization in India

    Alphabet Inc's Google on Monday said it would spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a key growth market. The investments will be done through a so-called digitization fund, highlighting Google's focus on the rapid pace of growth of apps and software platforms in India, one of the world's biggest internet services markets. "We'll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments," Sundar Pichai, CEO of Alphabet, said on a webcast during an annual "Google for India" event.

  • Barrons.com

    The Stock Market Is Setting New Records. Here’s How to Prepare for a Plunge.

    With market volatility picking up lately, it might seem like a good idea to hedge your portfolio against another downturn. But hedging strategies come at a price.

  • Bloomberg

    India Seeks to Limit Facebook, Google Dominance Over Online Data

    (Bloomberg) -- India needs a new data regulator to oversee the sharing, monetization and privacy of information collected online, an expert committee appointed by the government has recommended.In a 72-page report seen by Bloomberg News, the eight-person panel said that “market forces on their own will not bring about the maximum social and economic benefits from data for the society” and identified key issues that a new regulator would have to tackle. It would have to ensure that all stakeholders follow rules, provide data when legitimate requests are made, evaluate risks of re-identification of anonymized personal data and also help level the playing field for businesses, the report advised.The document named U.S. giants Facebook Inc., Amazon.com Inc., Uber Technologies Inc. and Alphabet Inc.’s Google as the beneficiaries of first-mover advantages and network effects that have “left many new entrants and start-ups being squeezed and faced with significant entry barriers.” The regulator’s envisioned role in facilitating data sharing would be to lessen these effects and also spur innovation, economic growth and social wellbeing.As countries around the world from the U.K. to China tighten data protection within their borders, India is moving to draft and reinforce policies governing its burgeoning digital economy. It already has a bill for governing the use of personal data, and this latest report recommends adding the non-personal data regulator via legislation as well.Non-personal data refers to information that does not include any details such as name, age or address that could be used to identify an individual. It also comprises data that was initially personal but later aggregated and made anonymous.The rules proposed in the report would govern collection, analysis, sharing, distribution of gains, as well as the destruction of data. This is with the goal of providing certainty for existing businesses and incentives for the creation of new ones, so as to tap the “enormous” social and public value from data, the report said.The committee recommended creating a new “data business” classification for those firms that collect, process, store, or otherwise manage data. Those may include health, e-commerce, internet and technology services companies, many of whom were consulted by the committee prior to the drafting of the report. Data businesses are envisaged as encompassing various industry sectors. “The compliance process will be lightweight and fully digital,” the report said.“Just like the economic rights to natural resources arising from a community are considered to primarily belong to it, the value of social resources of Community Non-Personal Data should primarily accrue to it (instead of the default whereby data custodians take up the entire value of such data),” the report said.The committee’s head Kris Gopalakrishnan, who co-founded IT services company Infosys Ltd., as well as Debjani Ghosh, president of NASSCOM, the IT services industry trade group, declined to comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investors face ‘a scary, out-of-whack’ scenario — just look at this chart
    MarketWatch

    Investors face ‘a scary, out-of-whack’ scenario — just look at this chart

    f it weren’t for the “Giant 5,” your money would have been better off in a savings account than the stock market over the past few years, according to Wolf Richter of the Wolf Street blog.

  • Google, Microsoft Link Up To Bring More Web-Apps To Play Store
    SmarterAnalyst

    Google, Microsoft Link Up To Bring More Web-Apps To Play Store

    Alphabet Inc.’s Google (GOOGL) is working with Microsoft (MSFT) to bring progressive web apps (PWA) to its Play Store. PWAs- otherwise known as web apps- mark a 3-year push by the tech giants to bring internet-powered apps to the mainstream.Web apps are powered by the internet as opposed to traditional apps that are natively installed on a user’s mobile device which powers the application.Google’s collaboration with Microsoft accelerated last year when Microsoft launched an updated version of its open-source PWA Builder to help users build and deploy PWAs to the Play Store. In a blog post on Medium on July 10, PWA Builder Community Member Judah Gabriel Himango stated, “We’re glad to announce a new collaboration between Microsoft and Google for the benefit of the web developer community.” He added, “Both web shortcuts and Android package customization are possible thanks to the collaboration between Google and Microsoft. We are working together to make the web a more capable app platform.”Three years ago, Google spearheaded its initiatives to bring progressive web apps to user devices with its Google Toolbox and Bubblewrap. Google VP of Chrome and Chrome OS Rahul Roy-Chowdhurdy said on May 17, 2017, “The modern mobile web has gone mainstream.” A year later Microsoft started rolling out its web apps to its Windows platform in February 2018 which was followed by Apple (AAPL) quietly adding support for web apps in its mobile operating system 11.3, one month later.The push to bring web apps to consumers has been a slow development because they are not typically sold on Apple’s App Store or Google’s Play Store. This also makes it difficult to estimate inroads with consumer adoption. With native apps, however, consumers spent an estimated $23.4 billion worldwide in Q1 2020- the largest ever quarter, according to data from App Annie. The App Store yielded $15 billion and Google Play reaped $8.3 billion. Both amounts were an increase of 5% year-over-year on their respective platforms with Google Play up nearly 25% year-over-year with nearly 10 billion game-related downloads. The Q1 increase has been largely attributed to global lockdowns as a result of the COVID-19 pandemic.Monness analyst Brian White on July 6 cut Q2 earnings estimates, citing the spread of COVID-19 along with the growing global privacy initiatives. However, he reiterated a Buy rating on GOOGL and a price target of $1420 (implying 8% downside). Likewise, Morgan Stanley analyst Brian Nowak maintained a Buy rating on GOOGL’s stock but with a price target of $1,700 which implies 10% upside potential.GOOGL is up 15% year-to-date with 28 analysts assigning Buy ratings, 2 with Hold ratings, and no Sell ratings which altogether results in a Strong Buy consensus. The average analyst price target stands at $1,542.21 suggesting .21% upside potential. (See Google’s stock analysis on TipRanks).Related News: Google Cloud Forges Multi-Year Deal With Renault Apple’s Integrated Ecosystem Takes the Cake, Says Top Analyst Game Consoles Will Provide Additional Boost to AMD, Says Top Analyst More recent articles from Smarter Analyst: * Amazon Delays Online Game New World- Again  * Tesla Slashes Model Y Crossover Price By $3,000 * Xeris Spikes 12% After-Hours On Soros Stake; Analyst Says Buy * Australia Provisionally Approves Gilead’s Covid-19 Treatment

  • Better Buy: IBM vs. Alphabet
    Motley Fool

    Better Buy: IBM vs. Alphabet

    Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) relies heavily on advertising revenue, but has expanded its business into the growing cloud computing market, where IBM (NYSE: IBM) also plays. The cloud is an exciting segment, but that didn't help these tech titans avoid the impact of the COVID-19 pandemic. IBM was well on its way to repositioning its business around cloud computing services when the pandemic struck.

  • TikTok Gets an Amazon-Sized Scare
    Bloomberg

    TikTok Gets an Amazon-Sized Scare

    (Bloomberg Opinion) -- What was a turbulent enough week for TikTok turned downright bizarre on Friday.Already, Secretary of State Mike Pompeo had warned that the Trump administration was looking at banning the short-video platform owned by Beijing-based parent ByteDance Ltd. over data-privacy concerns, and President Donald Trump himself said he was considering banning TikTok as one way to retaliate against China over the coronavirus. Then things got worse when Amazon.com Inc. on Friday sent an email to employees telling them to delete the TikTok app from mobile devices they use to access company email, citing “security risks.”The bizarre part happened just hours after that, when Amazon issued a statement saying the it had sent the email to its employees “in error” and there was no change in their policies toward TikTok. All clear? Not quite. For soon after Amazon corrected the record on its TikTok policy, Wells Fargo & Co. confirmed a report from the Information that the bank had told employees to delete the app from work phones because of “concerns about TikTok’s privacy and security controls and practices.”For sure, the company dodged a bullet when it comes to Amazon. But it is unknown whether the e-commerce giant intends to resend a similar email on TikTok policy in the future; clearly, someone drafted something. And the government threats remain. Not only that: The prospect of a potential ban has brought widespread anxiety to the TikTok community. In recent days, many creators posted tearful “goodbye” videos, with some asking their viewers to follow their accounts on other platforms such as YouTube and Instagram. What has been a slow boil of troublesome developments risks cascading into a full-blown public relations crisis. Whether or not the security concerns are justified or the motivations political, TikTok can and should do a lot more to address them and take more control of the narrative. TikTok’s responses, thus far, have been low-key. The company has said it keeps its user data in the U.S. with backups in Singapore and has never provided data to the Chinese government. On Friday, in response to the initial Amazon news, it said in a statement that “user security is of the utmost importance” to TikTok, adding it hadn’t heard from Amazon about its concerns and looks forward to a “dialogue so we can address any issues” the tech giant may have. A more proactive response is in order, and here are some things TikTok can do. First, statements aren’t enough. Where is TikTok’s CEO? Earlier this year, ByteDance hired former Walt Disney Co. executive Kevin Mayer to head up TikTok. You’d think the veteran media executive would be the perfect ambassador to help tamp down concerns. He needs to get out there and explain TikTok’s side of the story, whether in interviews to print press or on TV. He should know the basics of crisis management and PR strategy, following his long tenure in the upper ranks of a U.S. entertainment giant.Second, the Wall Street Journal on Thursday said ByteDance was considering making changes to its corporate structure, including the creation of a new management board for TikTok or designating a new headquarters for the company outside of China. While it won’t make a huge difference as TikTok will be still owned by the China-based ByteDance, both are easy, low-hanging-fruit-type moves that would at least give the appearance of more autonomy. They should go ahead and announce the changes as soon as possible. It also wouldn’t hurt to remind the public of TikTok’s growing U.S. workforce.And finally, TikTok needs to forcefully defend itself against the Trump administration’s conjecture and allegations. Yes, it’s a bit of a tricky situation as any pushback can backfire if not done tactfully, but the company can’t afford not to respond. Further, it should hire an external, independent consulting firm to do a full security audit. Anything to assuage the security and privacy concerns would help as the pressure isn’t going away. Late Friday, Fox Business’s Charlie Gasparino reported the White House is looking at using the Committee on Foreign Investment review as possible way to ban TikTok by saying its prior acquisition of Musical.ly was illegal. ByteDance has been under review by the interagency committee in the U.S. for its 2017 purchase of the lip-synching startup.In many ways, TikTok’s situation is similar to the public relations frenzy over Zoom Video Communications Inc. in early April. At the time, the video-conferencing company — whose service had seen an unprecedented surge from business customers and other entities looking to connect under lockdown — faced an avalanche of scrutiny over its security and privacy practices, including its use of Chinese servers. In response, CEO Eric Yuan proactively made himself available for numerous media interviews and helped restore his company’s reputation. He conducted weekly webinars, hired security experts and did whatever it took to educate the public that fears concerning his company’s products were overblown and that Zoom had taken concrete steps to address the issues. The strategy appears to have worked, as Zoom has managed to both retain customers and attract more to its platform.TikTok should take note and do the same. Hunkering down and doing the bare minimum is not a great strategy.(The third paragraph of this column was updated to include information about Wells Fargo’s ban of the TikTok app on its employees’ work phones.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    Facebook Stock Has Proved Immune To Controversy. Why This Time Is No Different.

    Wall Street’s outlook for Facebook revenue has barely budged, even as 1,000 major advertisers pause their spending on the platform

  • Barrons.com

    Cutting the Cord Is No Longer Cheap. Here’s 1 Cable Stock That Could Benefit.

    The hope that technology would lower the cost of pay TV is long gone. The number of Americans subscribing to a live TV bundle has fallen to its lowest level since 1997.