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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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Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
There is a period every stock trader loves the most due to significant movements, increased volatility, and, possibly, big gains. Open your trading apps and be ready to act! Earnings season comes four times a year and we crave to share our expectations with you.
As April approaches, investors are searching for good opportunities in the stock market. There are two booming industries that look positive in the coming period; electric vehicle (EV) stocks and banking stocks.
What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…
Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).
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