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☆ Amazon stock dips after Bernstein analysts pen 'open letter' to CEO. Here's what the pros say
▼ + stars: | 2023-06-07 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Amazon . The experts, including Jim Cramer , discussed the e-commerce giant after its stock fell 4.3% following an "open letter" from Bernstein analysts to Amazon CEO Andy Jassy and the company's board. The analysts behind the letter included Mark Shmulik, who appeared on CNBC on Wednesday. He said Amazon is pursuing "too many ideas" and needs to focus on what it does best. Still, Shmulik said he is bullish on Amazon's stock and made it his top pick.

Persons: Jim Cramer, Bernstein, Andy Jassy, Mark Shmulik, Shmulik Organizations: Amazon, CNBC, Charitable

☆ Amazon stock dips after Bernstein analysts pen "open letter" to CEO. Here's what the pros say
▼ + stars: | 2023-06-07 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon stock dips after Bernstein analysts pen "open letter" to CEO. Here's what the pros sayJim Cramer, Mark Shmulik of Bernstein Research, and Quint Tatro of Joule Financial on what they think about Amazon stock after Bernstein analysts wrote an "open letter" to CEO Andy Jassy and the board.

Persons: Bernstein, Jim Cramer, Mark Shmulik, Quint Tatro, Andy Jassy Organizations: Bernstein Research, Joule

☆ Microsoft opens up Bing access and adds chat history and export features
▼ + stars: | 2023-05-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Microsoft said Thursday that it's dispensing with the waiting list it has had in place for the past three months for its revamped Bing search engine, allowing anyone with a Microsoft account to use it. Kumar said the company will provide more details on how developers can build for the Bing chatbot at its Microsoft Build developer conference, which starts on May 23. That means Google has yet to allow people to use the Bing chatbot from Google's dominant Chrome browser. Microsoft includes Edge in its Windows 10 and Windows 11 operating systems, and the default search engine in Edge is Bing. may ruin Alphabet's only real business: Google Search, says CIC Wealth's Malcolm Ethridge

☆ Facebook-parent Meta soars as AI powers return to growth
▼ + stars: | 2023-04-27 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

The company is set to add nearly $60 billion to its market valuation, if premarket gains hold. The rally also lifted other tech companies from Snap Inc (SNAP.N) and Pinterest Inc (PINS.N) to Amazon.com Inc (AMZN.O) by as much as 3.3%. "If you want to be treated and valued like a growth stock, you need growth! And this is precisely what Meta delivered returning to growth... just as questions around a potential recession get louder," Bernstein analyst Mark Shmulik said in a note. "Year of efficiency (now) paves the way to AI offense," Roth MKM's Rohit Kulkarni said.

☆ TikTok's regulatory scrutiny may be an opportunity for Meta, says Mighty Capital's SC Moatti
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTikTok's regulatory scrutiny may be an opportunity for Meta, says Mighty Capital's SC MoattiBernstein's Mark Shmulik and Mighty Capital's SC Moatti, join 'Closing Bell: Overtime' to discuss META earnings as the company posted better-than-expected revenue.

☆ The viral success of Bytedance's new app Lemon8 shows just how pointless a TikTok ban would be
▼ + stars: | 2023-04-13 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Amid talk of a TikTok ban, its Chinese parent company Bytedance is pushing a new app in the US called Lemon8. The early success of Lemon8 shows how banning TikTok wouldn't actually solve anything, experts say. As calls for a national TikTok ban escalate, its China-based parent company Bytedance is pushing a new app in the US called Lemon8. In fact, beyond TikTok and Lemon8, Bytedance has another success in its US portfolio: CapCut, a video-editing app. For Lemon8, Bytedance is pushing hard to get creators on the new app.

☆ Shmulik: You don't have to reach far to find good value in the communications services and large-cap Internet names
▼ + stars: | 2023-03-30 | 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 EmailShmulik: You don't have to reach far to find good value in the communications services and large-cap Internet namesBernstein's Mark Shmulik discusses the outperformance of the communication services sector this year, and focuses in on Meta and how it could take back share from rivals in the ad market.

☆ This Bernstein stock-picking model beats the market by 6% a year. Here are its top picks today
▼ + stars: | 2023-03-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Instead of relying on fundamental research or quantitative analyses alone to identify stocks that will outperform, Bernstein combines both models. The Wall Street firm used its Bernstein and Autonomous sell-side analysts' recommendations as a proxy for the fundamental stock picker. His $200 target price suggests nearly 26% upside from Tuesday's close. According to his $265 price target, the stock could rally 38% from Tuesday's close. Rosenblum's price target of $54 implies 10.4% upside from Tuesday's close.

☆ The TikTok CEO's day in Congress was a 'disaster' that failed to prove a sale or ban isn't the only way forward, Wall Street says
▼ + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. Thursday's hearing likely gave lawmakers even more fuel for the argument in favor of a sale or a ban. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.

☆ The TikTok CEO's day in Congress was a 'disaster' that means the app will still likely get banned or sold, Wall Street says
▼ + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. Which means that the same question is now being asked: Is TikTok more likely to be forced to sell, or will it be banned outright? "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.

☆ TikTok commands the attention of 150 million American users. That's its best defense yet against Biden's threat of a ban.
▼ + stars: | 2023-03-21 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +3 min

TikTok officially has 150 million monthly active users in the US, the company says. The user figures come as TikTok CEO Shou Chew is set to testify in front of Congress on Thursday. It's still not to the threshold of Facebook, which logs 266 million monthly active users in the US, but it's not far behind. (Facebook parent Meta doesn't break out Instagram's monthly active users in the US.) That number also includes about 5 million businesses that use TikTok as a way to reach customers, he said in a TikTok video on Tuesday.

☆ Biden and Trump agree on at least one thing: Something has to be done about TikTok. But it's not that easy.
▼ + stars: | 2023-03-18 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

As the Biden administration pushes for a TikTok sale or ban, it's clear the idea has bipartisan support. We've been here before, when the Trump administration pushed TikTok to sell its US operations in much the same way. While the Biden administration's approach to TikTok has been slightly different, it's clear that lawmakers on both sides of the aisle support a TikTok ban. A bill to ban TikTok on federal devices passed in December with bipartisan support in Congress, and was then signed by President Biden. That's likely to happen on a wider scale if the Biden Administration pushed for an immediate ban, experts said.

The Biden administration and CFIUS are pushing for a sale of TikTok in the US. The Chinese government could also block a TikTok sale outright before bidding kicks off. But the list of companies that would actually consider buying TikTok is small, experts told Insider. "I think Microsoft would be one of the only big money, big company possibilities." Ultimately, separating TikTok's US operations, whether in a sale to a big tech firm or a spin off, is complicated.

☆ 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.

☆ What are dual-class shares and why do they matter for investors like us?
▼ + stars: | 2023-03-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Alphabet (GOOGL), Meta Platforms (META), Ford Motor (F) and Estee Lauder (EL) are the four Club holdings that maintain a dual-class structure. Dual-class stock structures generally designate shares as part of Class A or Class B, with one carrying more weight than the other. Google Co-founders Sergey Brin and Larry Page took their nascent firm, now Alphabet, public in 2004 with a dual-class stock structure. Advantages A dual-class structure allows founders, C-suite executives or key investors to maintain control and execute their long-term vision for the business. Bottom line Dual-class shares are not ideal, but they're not a deal breaker either.

☆ Meta could bring in nearly $2 billion this year from new Instagram and Facebook verification subscriptions, analysts say
▼ + stars: | 2023-02-22 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Meta rolled out a new subscription offering for Instagram and Facebook. Meta is rolling out a new paid version of verification on Instagram and Facebook that could prove valuable to the company in a short amount of time. As the monthly subscription costs $11.99 for web or $14.99 for mobile, that could mean $1.7 billion in additional yearly revenue, the analysts said. "In addition to Meta Verified, we think there are opportunities for content and commerce subscriptions to help Meta diversify its revenue base over time," Bank of America analysts wrote. While Meta's core business is and very likely always will be ads, influencers have been "under monetized" at the company, Shmulik said.

☆ Meta's cold war with Apple over privacy is coming to a critical moment
▼ + stars: | 2023-02-16 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Meta's ads unit will only recover if it continues to innovate so it doesn't need to track user data to sell ads. In 2021, Apple changed its iOS operating system to limit the abilities of apps to track user behavior. Apple CEO Tim Cook, for his part, has criticized Facebook's business model several times over the years, with Apple going so far as to declare privacy a "human right." It's clear from Meta's most recent earnings report, and its drive for efficiency and cost-cutting, that this cold war with Apple is taking its toll on the bottom line. "It's forced Meta to move so quickly to building the workarounds, not just to accommodate Apple's changes, but really where it sees the state of digital advertising data use going," Shmulik said.

☆ The walls are closing in on Google. Here's what it needs to do to survive.
▼ + stars: | 2023-02-09 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

Google needs to focus on building up its AI business while also keeping costs under control. Building up its AI business needs to be a top priorityThe events of the last few days show Microsoft and Google are clearly in an AI arms race — one that Google needs to win for its own sake. Google needs to double down on its own AI prowess right now, given the threat, Wall Street analysts said. However, they emphasize that Google needs to be thoughtful and show why its technology is better than OpenAI rather than being reactive. Maintaining efficiency while retaining an innovative cultureTo win in AI, however, Google needs to maintain its culture of innovation.

☆ 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.

☆ Analysts say buy Amazon for the long term, despite recession concerns and slowing AWS growth
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

But even with these near-term headwinds, analysts remain confident in the long-term thesis for the e-commerce giant and its growth trajectory. The results from Amazon come on the heels of a difficult 2022 that saw the e-commerce bellwether shed roughly half its value and post its slowest year of growth . At the same time, revenue for its Amazon Web Services division fell short of Wall Street's estimates and showed slowing sales growth as business spending dwindles. Moderating growth within the company's cloud unit marked one of the biggest concerns for analysts, but nowhere near a shock. Revenue growth came in at 20% for the quarter, and below the already slow 27.5% growth rate the company experienced in third quarter.

☆ Meta's short video Reels may finally be ready to challenge TikTok, analysts say
▼ + stars: | 2023-02-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Improving Reels engagement is boosting analysts' confidence in the short-form video platform's ability to compete with TikTok. META 1D mountain Meta Platforms shares surged more than 28% Thursday, on pace for their best day since 2013. Looking ahead, some analysts believe that Reels plays a dominant role in improving Facebook's efficiency. Easing TikTok tensions As for TikTok, some analysts say Reels is in position to overtake the short-form video leader that finds itself under increasing pressure as calls for a nationwide bans grow. JPMorgan analyst Doug Anmuth views improving Reels engagement trends and artificial intelligence investments as a way to temper threats from TikTok.

☆ Microsoft's landmark deal with OpenAI shows that ChatGPT is going to be the defining technology of 2023
▼ + stars: | 2023-02-02 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

It remains to be seen how generative AI will transform our lives, but the tech is here to stay. In 2022, investors put at least $1.37 billion into generative AI startups, usually at the seed stage. Why this iteration of ChatGPT made generative AI so popular right nowIt's important to note that nothing about ChatGPT or generative AI is especially new or novel. In other words, OpenAI's real innovation was taking AI technology that was already out there and making it something that was easy and accessible to anybody. That's one reason why there will be a lot more business uses for generative AI technology than consumer use cases in the near term, said Mark Shmulik, a Bernstein analyst.

☆ Watch CNBC's full interview with Bernstein's Mark Shmulik
▼ + stars: | 2023-02-02 | 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 Bernstein's Mark ShmulikMark Shmulik, Bernstein analyst, joins 'TechCheck' to break down Meta as the stock skyrocketed after beating on earnings.

Snap said its direct response business geared towards driving product sales or website visits rose 4% in October-December. That could "be viewed as a healthy sign for Meta and Google," whose businesses are tuned to direct response advertisers, said Mark Shmulik, senior analyst at research firm Bernstein. Similarly, Meta has said in previous quarters that the bulk of its revenue comes from direct response advertising. Headwinds for Meta and Google could be notably less severe, he added. The weak outlook pulled down the shares of rivals Meta, Google, and Pinterest (PINS.N), which also earns revenue by selling digital advertising, on Tuesday.

☆ Google is under more pressure to make cuts amid industry layoffs. Here are the units it could target.
▼ + stars: | 2023-01-20 | by ( Thomas Maxwell | Hugh Langley | ) www.businessinsider.com time to read: +1 min

Google's parent company Alphabet has not yet conducted the mass layoffs seen at other tech giants. The company's stock is down 31% in the past year, and CEO Sundar Pichai has not ruled out layoffs. Its profit margins declined 740 basis points year-over-year last quarter and hasn't yet made job cuts, according to Bernstein estimates. Its profit margins had declined just 180 basis points year-over-year, according to Bernstein estimates. While Wall Street is skeptical that the company can avoid mass layoffs, it's possible that Google will weather the storm with smart targeted cutbacks and consolidation.

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