Facebook tops user distrust rankings: tech stocks summary

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Baidu, China’s largest search engine (BIDU) – Get the Baidu Inc., launched its own version of the metaverse by allowing customers to use digital avatars to interact virtually and visit virtual locations on its new XiRang app, according to media reports.

XiRang means “Land of Hope” as reported by ABS-CBN News.

XiRang, tech giant Baidu’s revamped virtual reality app, which can accommodate up to 100,000 users at a time, is a virtual “creative city” that can host meetings and other events.

“Other places recreate attractions such as the Shaolin Temple in China,” Nikkei Asia reported.

The Beijing-based company made the announcement at an event it said was “China’s first metaverse conference” in front of Baidu co-founder and CEO Robin Li and an audience of 3D avatars.

Amid a deterioration in Sino-US relations and government crackdown, China’s 10 richest tech moguls lost a lot of money in 2021.

According to an analysis by Bloomberg Intelligence, the $ 80 billion in wealth lost by the country’s tech elite is the biggest year-over-year loss since 2012. In total, more than a quarter of their collective wealth has been lost in largely because of the businesses they run with huge losses.

Colin Huang, founder of the Chinese e-commerce site Pinduoduo (PDD) – Get the Pinduoduo Inc. report, at the top of the list. In 2021, he lost two-thirds of his fortune – or about $ 42.9 billion – after Pinduoduo shares fell almost 70%.

Companies like Pinduoduo and Alibaba (BABA) – Get the report from Alibaba Group Holding Ltd. has struggled not only with declining user interest after the pandemic peaks, but also with continued pressure from Chinese and US authorities. Just this week, the Chinese government ruled that the ownership of foreign companies cannot exceed 30%, while President Joseph Biden also passed an executive order banning certain Chinese companies from trading.

Here’s a detailed list of other tech and FAANG / MAMAA stocks to watch right now based on how they’ve performed over the past week:

Facebook, operated by Meta Platforms (FB) – Get the Class A report from Meta Platforms Inc., tops the mistrust rankings when asked, “How much do you trust each of the following companies or services to responsibly manage your personal information and data about your Internet activity?” 72% of those surveyed said they did not trust Facebook at all. Chinese video app TikTok (63%) took second place followed by Instagram (50%), WhatsApp (53%), Youtube (53%), Google (47%) (GOOGL) – Get the Class A report from Alphabet Inc., Microsoft (42%) (MSFT) – Get the Microsoft Corporation report, Apple (40%) (AAPL) – Get the Apple Inc. and Amazon (40%) (AMZN) – Get the Amazon.com, Inc. report.

Real Money contributor Doug Kass writes in his 15 Surprises for 2022 that he believes value stocks will significantly outperform growth stocks. Get more of his trading strategies and find out what he thinks it means for Facebook, Amazon, Apple, Google, Netflix, Nvidia, and Microsoft.

The metaverse will turn from hype to reality as more tech stalwarts like Facebook, Apple, Alphabet-owned Google, and Microsoft invest massive billions in this theme over the next year or so. We expect significant M&A activity on this front. Wedbush Securities analyst Dan Ives and his team remain “strongly bullish on tech stocks for 2022”.

TheStreet Quant Ratings classifies Meta Platforms (formerly Facebook) as a purchase with a rating of B +.

Apple

Apple shares are climbing higher this week, as announcement of the closure of its 12 stores in New York amid rising Covid infections does not start the stock’s push towards market cap of $ 3 trillion. The move follows the return of a client mask mandate earlier this month for the world’s largest tech company. Apple shares, which have risen nearly 40% so far this year, first crossed the $ 2 trillion mark in August 2020, just two years after hitting the $ 1,000 billion mark. dollars. It was worth $ 100 billion in May 2007.

Last month, the business newspaper Nikkei Asia said that iPad’s production cycles were about half of their normal pace over the past two months, due to Apple’s decision to prioritize chips for its new iPhone 13. Bloomberg, meanwhile, said Apple is asking suppliers to prepare for softer holiday sales thanks in part to Omicron concerns, delivery delays, supply chain shortages. and the broader impact on consumer spending of the highest levels of domestic inflation in over 30 years.

TheStreet Quant Ratings classifies Apple as a purchase with a rating of A.

Amazon

While many love Amazon Alexa’s ability to answer silly questions, the virtual voice assistant’s pre-programmed suggestions can get dangerous as well. This week, the company had to update its Alexa devices after one of them responded to a 10-year-old girl’s request for a “challenge” by suggesting that she put a charger halfway in. a socket, then touching the pin with a metal penny. It can cause a short circuit and start a fire.

Amazon is said to be grappling with waning interest in its Alexa voice-activated smart speakers. In some years, 15 to 25 percent of new Alexa users were no longer active in their second week with the device, Bloomberg reported, citing internal data. However, last year, Amazon’s internal analysis of the smart speaker market determined that it had “passed its growth stage” and estimated that it would only grow by 1.2%. per year over the next few years.

TheStreet Quant Ratings rates Amazon as a purchase with a B rating.

Google

One way to attract customers is to invest in them. That’s what Alphabet’s Google and Microsoft are doing to boost their cloud service activity, as they seek to catch up with market leader Amazon, the Wall Street Journal reports. Google put $ 1 billion in financial exchange firm CME (CMF) – Get the Class A report from CME Group Inc., $ 450 million in home security company ADT ADT, and undisclosed amounts in Spanish-language television network Univision Communications and health-tech startup Tempus Labs, the Journal reports.

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“After taking a closer look at the connected TV advertising market, we believe Google’s YouTube will be a major beneficiary of this rapidly growing business,” Morningstar analyst Ali Mogharabi wrote earlier this month. this. “We have increased our total estimate of Google’s advertising revenue,” he added, leading Mogharabi to increase his estimate of fair value by $ 3,400.

TheStreet Quant Ratings classifies Alphabet as a purchase with a rating of A.

Microsoft

Move over, Platoon. Microsoft’s tablet, the Surface Pro, is the latest consumer gadget to receive less than welcome publicity. After the Tampa Bay Buccaneers lost 9-0 to the New Orleans Saints, quarterback Tom Brady threw a Surface Pro tablet over his shoulder. As you might expect, it quickly became a Twitter meme, according to Geek Wire, as some users called it the best pitch in the entire game.

Microsoft is an official partner of the NFL, and coaches and players have used it to review games since 2013. Surface has an overall low share of the personal computing market at 3.4%, down from 64.4% for the Apple iPad, according to a market analysis. Enlyft company.

The Street Quant Ratings classifies Microsoft as a purchase with an A + rating.

Netflix

Netflix (NFLX) – Get the Netflix, Inc. the stock fell from its late-October high of around $ 690 per share to less than $ 610. Some investors fear the streaming giant’s stock will continue to fall. But others are wondering if Netflix stocks will hit new highs in the coming months, which makes it a good buying opportunity right now. Wall Street analysts are starting to be bullish about Netflix. They set higher and higher price targets for its stocks.

Evercore ISI analyst Mark Mahaney set his Netflix goal at $ 710, keeping his buy recommendation. This price target opens up the possibility of earning an almost 20% return on Netflix shares, compared to today’s trading price ($ 605). If Netflix stock reaches $ 710, that will be the company’s all-time high.

TheStreet Quant Ratings classifies Netflix as a purchase with a B rating.

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