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☆ Unity shares rise 15% after company announces A.I. marketplace
▼ + stars: | 2023-06-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

AI companies will be able to distribute their software to game makers and charge for it through Unity's Asset Store. The surge in Unity's price comes as company officials have talked about the potential they see in AI in recent weeks. "I think AI will change gaming in a couple of pretty profound ways. Separately, the company was also given an overweight rating and a target price of $48 by Wells Fargo analyst Brian Fitzgerald in a note Tuesday. Before Unity started directing investor attention to AI, it was closely linked to headset efforts, such as Meta 's, because its software can be used to create virtual reality apps.

Persons: John Riccitiello, Wells, Brian Fitzgerald, Fitzgerald, Riccitiello Organizations: Unity's, Associated Press, Unity, Apple, Vision Pro Locations: Wells Fargo

☆ Wall Street says Meta job cuts reiterate focus on efficiency, offer 'rare EPS upside story'
▼ + stars: | 2023-03-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The latest round of job cuts at Meta Platforms is boosting Wall Street's confidence in the upside potential for earnings in the months and year ahead. It's another round of eliminations after Meta's announcement in November that it would be laying off 13% of its workforce. Despite the blow to workers, Wall Street views the latest round of layoffs as a sign that Meta Platforms is following through on these efficiency plans. Post called the company in a Tuesday note a "rare EPS upside story," saying that the cuts should set Meta up to generate higher profitability once the economy reaccelerates. Although Wall Street broadly praised the latest efficiency move from Meta, some analysts say there's more work to do.

☆ Watch CNBC’s full interview with Wells Fargo’s Brian Fitzgerald
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Wells Fargo’s Brian FitzgeraldBrian Fitzgerald, managing director and senior equity research analyst at Wells Fargo Securities, joins ‘Squawk on the Street’ to discuss why he has a buy rating on Google and how A.I. could help the tech giant.

☆ A.I. hype cycle is creating an opportunity for Google, says Wells Fargo’s Brian Fitzgerald
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. hype cycle is creating an opportunity for Google, says Wells Fargo’s Brian FitzgeraldBrian Fitzgerald, managing director and senior equity research analyst at Wells Fargo Securities, joins ‘Squawk on the Street’ to discuss why he has a buy rating on Google and how AI could help the tech giant.

☆ Heavyweight tech battle: How Microsoft and Alphabet stack up against each other in the A.I. war
▼ + stars: | 2023-02-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +9 min

"It's a new day in search," Microsoft CEO Satya Nadella said Tuesday during an AI event held at the company's headquarters, saying that the "race starts today." So far, Microsoft is making significant headway within AI and rising in popularity in the tech world. Alphabet, he added, "got beaten to market by Microsoft" despite its investments in the space. Alphabet Microsoft may be taking the lead on AI in the near term, but investors shouldn't sleep on Alphabet just yet. "We believe GOOGL has the AI tech and scale to maintain/grow its leading user base," said Morgan Stanley's Brian Nowak in a Thursday note.

☆ Microsoft may have won the A.I. battle, but Alphabet could win the war, analysts say
▼ + stars: | 2023-02-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Microsoft won the first round in the battle to become the next big artificial intelligence leader, but analysts think Alphabet 's ability to overtake its competition in the long-run shouldn't be underestimated. "We think Google's big reveal is still to come, which we would expect in weeks and not months." On the heels of its multibillion dollar investment in ChatGPT-creator OpenAI, Microsoft on Tuesday announced new AI versions of its Bing search engine and Edge browser. "We believe GOOGL has the AI tech and scale to maintain/grow its leading user base," wrote Morgan Stanley's Brian Nowak. He also expects Google's AI product visibility to improve over the next few months — and easily offset some higher AI search costs.

☆ Analysts overlook Alphabet's disappointing quarter, cite confidence in AI push as ChatGPT threat grows
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Analysts are willing to overlook Alphabet' s disappointing quarter in lieu of its artificial intelligence push and focus on costs. Shares of the search giant fell more than 4% after the company missed Wall Street's expectations for the fourth quarter. But, analysts lauded the company's focus on artificial intelligence as it faces mounting pressures from popularized Microsoft-backed chatbot ChatGPT . Alphabet CEO Sundar Pichai said the company plans to release its LaMDA language model with search components "very soon." GOOGL 1D mountain GOOGL falls after earnings Analysts also cited some confidence in the company's push to reengineer its cost structure and reduce inefficiencies.

Jan 25 (Reuters) - Alphabet Inc's (GOOGL.O) Google said on Wednesday it believes the complaint from the U.S. Department of Justice accusing the company of abusing its dominance in digital advertising is "without merit". The company also added it will "defend itself vigorously". Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow." "In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Internet analysts are focusing on one big stock as their favorite 2023 comeback story
▼ + stars: | 2023-01-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

And Facebook parent Meta Platforms could be the next battered stock to make a recovery, according to analysts on Wall Street. The tech-heavy Nasdaq Composite tumbled a whopping 33% , with big names like Tesla , Meta and semiconductor stocks among the worst performers. META 1Y mountain Meta Platforms shares tumbled more than 64% in 2022 But tech stocks aren't out of the woods just yet. Wolfe Research also views Meta Platforms as a stock to buy, especially heading into fourth-quarter earnings. Any information or commentary that rationalizes that investment case could push the stock up, according to Wells Fargo analyst Brian Fitzgerald.

It isn’t clear yet who will succeed Mr. Segal as CFO. Twitter and Mr. Musk on Friday didn’t respond to requests for comment. Mr. Segal on Friday tweeted that “the work isn’t complete,” referring to Twitter’s ambition to build “the world’s townsquare.” Mr. Segal didn’t respond to a request for additional comment. Mr. Musk has said buying Twitter would accelerate his creation of an app that combines the capabilities of several apps in one. The future executives that Mr. Musk installs will have to share his vision for Twitter, Mr. Ives said, and prepare to support growth initiatives that will take years to build.

☆ Snap's slowing ad growth sends inflation fears through tech sector
▼ + stars: | 2022-10-20 | by ( Sheila Dang | ) www.reuters.com time to read: +4 min

Social media stocks collapseIn a letter to investors, Snap said inflation caused some advertisers to reduce their marketing budgets. Wall Street had forecast 7% growth, said Brad Erickson, an analyst at RBC Capital Markets, in a note after the results. Revenue for the third quarter ended Sept. 30 was $1.13 billion, an increase of 6% from the prior-year quarter. Snap said advertising revenue has historically followed the growth and engagement of its user base, and "we remain optimistic about our long-term opportunity." Adjusted earnings per share was 8 cents during the third quarter, beating analyst expectations of breakeven.

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