ONLINE FOREX BROKER
2021-10-26 • Updated
Facebook, one of the largest tech companies in the US, has revealed its financial results for the third quarter after the market closed.
- EPS: $3.22 (forecast: $3.19)
- Revenue: $29.01B (forecast: $29.49)
Though FB posted stronger-than-expected earnings, its revenue came out worse than the analysts’ forecasts. The main reason is Apple’s privacy changes.
Social media stocks can be pressed by Apple’s overhaul of its privacy settings, which allows iPhone users to choose not to receive targeted advertising. It is a severe problem for all social media platforms (Facebook, Google) as it would decrease their ad sales.
The stock of Snap dropped almost 30% on Friday after the owner of the Snapchat app cautioned that Apple’s data collection policy has created barriers for advertisers to test and gauge their campaigns.
Besides, small and medium-sized businesses are reducing their ad spending as they face challenges of supply-chain issues and rising costs. The falling demand for advertising is negative for Facebook and other social media companies.
Facebook has dropped significantly since early September. It may continue falling in the short term amid all these headwinds mentioned above. However, the stock will inevitably reverse up in the long term. Thus, the current drop should be viewed as a correction which the stock will overcome. It has recovered after every big crisis based on its past performance. Why? Other businesses have no option to ignore the Facebook platform due to its huge global reach.
Facebook has failed to cross the support level of $320.00 at the 200-day moving average and reversed up. If it manages to jump above the 23.6% Fibonacci retracement level of $333.00, the way up to the 38.2% Fibo level at $343.00 will be open. Support levels are the 200-day MA at $320.00 and the next round number of $310.00.
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In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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