|Bid||1,130.31 x 800|
|Ask||0.00 x 1000|
|Day's Range||1,132.85 - 1,148.40|
|52 Week Range||977.66 - 1,296.97|
|Beta (3Y Monthly)||1.02|
|PE Ratio (TTM)||28.80|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,335.22|
Stocks rose Tuesday thanks to media reports suggesting in-person U.S.-China trade talks are set to resume as soon as next week, but that’s not changing the trade outlook for Kristina Hooper, Invesco’s chief global market strategist.
The Wall Street Journal is reporting The Justice Department is opening a broad antitrust review into whether dominant technology firms are unlawfully stifling competition. Yahoo Finance's Jessica Smith has the details.
Amazon, Facebook, Google and Apple spent a combined $12.7 on federal lobbying in the second quarter of 2019.
As big tech faces heightened scrutiny from regulators and lawmakers, the industry is pouring millions into lobbying efforts in Washington. Yahoo Finance’s Jessica Smith joins YFi AM to break it all down.
Much has been made about how millennials and Gen Z are different — or not — from their Baby Boomer elders, and what that means for business and society.
Tiffany Olson Kleemann ContributorTiffany Olson Kleemann is the chief executive officer of Distil Networks
(Bloomberg) -- The U.S. Justice Department sent the strongest signal yet that it’s prepared to take on technology giants like Facebook and Google, announcing a broad antitrust review into whether the companies are using their power to thwart competition.The department’s antitrust division disclosed plans Tuesday to scrutinize tech platforms following mounting criticism across Washington that the companies have become too big and too powerful. The department didn’t specify which firms it would look at but strongly suggested Facebook Inc., Alphabet Inc.’s Google and Amazon.com Inc. are in the cross-hairs.“The history of these DOJ investigations is that they kill the company that they investigate” as the firm turns its focus to defending itself, said Mark Grady, a law professor at the University of California Los Angeles. “It’s a giant distraction.”The announcement marks latest sign of the escalating pressure coming down on tech giants, from Capitol Hill to President Donald Trump, who accuses the companies of silencing conservative views. The giants of the industry are under fire over massive collection of user data, failing to police content on their platforms, and claims that they are harming competition and reducing choices for consumers.The spotlight on the industry will carry into Wednesday when a record $5 billion privacy fine against Facebook is set to be announced by the Federal Trade Commission for a series of privacy violations.The Justice Department review, led by antitrust chief Makan Delrahim, represents a new level of scrutiny of the industry after news in May that the U.S. antitrust agencies carved up oversight of four tech giants, with the department taking Google and Apple Inc., and the FTC claiming Facebook and Amazon.Companies are now potentially exposed to investigations by both agencies, because their accord calls for separating the scrutiny by business practices, according to two people familiar with the matter. The Justice Department in its statement suggested that possibility because it signaled that it would look at Amazon and Facebook, even though the FTC will be examining those companies under the agreement.Attorney General William Barr encouraged the review of the industry, according to one of the people. He met earlier this year with European Union competition chief Margrethe Vestager, who has slapped Google with record fines over antitrust violations, the person said.The department’s scrutiny comes after repeated attacks on the industry’s biggest names by Trump, who is more outspoken on antitrust than any president in possibly a century, said New York University law professor Harry First.The president repeatedly accuses tech platforms of bias against conservative views, which the companies deny, while directing ire toward Amazon founder Jeff Bezos, threatening his company with antitrust enforcement and higher shipping fees.The antitrust division is already taking steps in its inquiry, hearing out third parties who have complaints about competitive harm, according to the people. Its review will look at concerns raised by consumers, businesses and entrepreneurs about search, social media, and online retail, according to the statement.Amazon, Google, Apple and Facebook Inc. declined to comment on the Justice Department’s announcement.For more: YouTube’s Trampled Foes Plot Antitrust RevengeTech giants are separately contending with a broad investigation by the House antitrust panel led by David Cicilline, a Rhode Island Democrat. Cicilline on Tuesday accused Facebook, Google and Amazon of “evasive, incomplete, or misleading answers” when their executives testified before his committee last week.“We should all welcome greater scrutiny of dominant online platforms,” he said after the Justice Department’s announcement. “Unfortunately, I don’t have a lot of confidence that Donald Trump’s Justice Department will put the interests of working people ahead of billionaires for a change.”Still, the move was cheered by others.“American consumers and news publishers desperately need high tech markets to be more competitive,” said Dina Srinivasan, a former digital advertising executive who wrote a paper titled “The Antitrust Case Against Facebook.”“Increased competition will help to solve the systemic privacy problems that consumers face with companies like Google and Facebook,” she said.While the Justice Department pursues its own review, FTC Chairman Joseph Simons earlier this year formed a task force to investigate conduct in the industry and review past acquisitions to determine whether mergers harmed competition.The efforts put pressure on antitrust enforcers to bring cases against tech companies, said William Kovacic, a former FTC commissioner who is now a professor at George Washington University Law School.“All of this creates momentum. You can only go so far in saying we’re doing investigations, we’re going to do this broad study before you have committed yourself to say we’re going to take enforcement action,” he said. “Can you imagine standing in front of a press conference and saying, never mind, we didn’t find anything?”\--With assistance from Mark Bergen, Vicky Graham and Ben Brody.To contact the reporters on this story: David McLaughlin in Washington at firstname.lastname@example.org;Kurt Wagner in San Francisco at email@example.com;Naomi Nix in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- Things aren’t so desperate for Huawei Technologies Co. after all.Just over a month ago we were told that the Chinese electronics giant was hunkering down for a drop of as much as 60 million units in overseas handset shipments this year. That was quite a blow, I wrote at the time, considering that consumer devices accounted for 45% of its revenue last year from sales of around 206 million units. This week, however, we learn that the target of U.S. sanctions is actually on track to post sales growth of around 30% in the first half of the year. The work by select teams to get critical components despite the ban and nail down fifth-generation mobile-network contracts are among key reasons for the suddenly sanguine revenue numbers, Bloomberg News reported Tuesday.Over the past year, the avalanche of news about Huawei has been dismal. The company is still on a U.S. blacklist that threatens to cut off supplies of American components and software, and its chief financial officer is under house arrest in Vancouver. While some U.S. tech executives have lobbied the Trump administration to ease restrictions on Huawei – which counts the likes of Alphabet Inc. and Intel Corp. among suppliers – the outlook remains uncertain. It’s unclear, at least to me, what end game U.S. President Donald Trump had in mind when he authorized the Department of Commerce to blacklist Huawei. (Trade war leverage certainly seems to have been part of it.) But it’s hard to believe administration officials would be so naive as to think they could shutter the company. Now Huawei’s victimization narrative has united Chinese, from bureaucrats to ordinary citizens, behind a common goal of technology independence. Trump may not realize it, but he’s fired the starting gun on a technology cold war that could wind up strengthening China’s homegrown champions.If Huawei can keep its 30% pace of sales growth through to the end of the year, it will have pulled off its strongest annual revenue increase since 2016. A lot of that will come from network equipment sales – with the smartphone market in a funk – and because we’re at the start of another capex cycle, as global telecom operators start to install fifth-generation systems.To be sure, Huawei might not get the same levels of market share it did for 4G networks. That’s not entirely due to the anti-Chinese campaign waged by the U.S. Some telcos are leaning toward options that give them more flexibility than they feel Huawei offers.We also can't ignore that half of the company’s revenue comes from overseas. Boosting demand at home could help compensate for lost business, but Huawei would still have to battle local rivals such as Xiaomi Corp., Oppo, Vivo and OnePlus for market share.The optimistic news about Huawei’s sales offers a bit of something for everyone. Skeptics can raise an eyebrow and claim that the Chinese company was crying crocodile tears over foreign attacks on its business. Fans, on the hand, can point to its resilience and determination. Both are correct.The bottom line is that Huawei is still in the fight – both in equipment and handsets – and it has the support of an entire nation behind it. That means it’s way too early to draft a eulogy for this Chinese hero.To contact the author of this story: Tim Culpan at firstname.lastname@example.orgTo contact the editor responsible for this story: Rachel Rosenthal at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Facebook's (FB) second-quarter 2019 results are likely to benefit from aggressive video push, improving ad transparency and increasing monetization opportunities on Instagram.
Dow Jones futures: Amazon, Facebook, Google and Apple fell as the DOJ said will probe Big Tech online dominance. Chipotle Mexican Grill, Snap and Texas Instruments soared on earnings.
Tech’s day of reckoning Tuesday on Capitol Hill started with skepticism about Facebook Inc.’s proposed digital currency, and ended with a spirited debate over charges of anti-conservative bias on Alphabet Inc.’s Google search. In between, the industry’s big four took some body blows from both political parties.
After months of speculation and reports, the U.S. government openly announced Tuesday afternoon that it is investigating the largest U.S. tech companies for anticompetitive practices, an inquiry that could lead to antitrust charges.
The U.S. Department of Justice has launched an antitrust probe into leading online platforms, which may have consequences for the FAANG stocks.
The Justice Department’s broad-based inquiry into tech companies could be a politically motivated sabre-rattling investigation or a battle between two government agencies, but that doesn’t make it any less of a concern to investors in the most valuable companies in the U.S.