Mizuho analyst James Lee raised his price target for Alphabet to $1,650 fro $1,450 after hosted a quarterly investor call on search advertising trends with a leading agency. Google's U.S. spending decelerated 20 bass points in Q4, tracking ahead of consensus at 100 basis points of deceleration, Lee tells investors in a research note. Further, Amazon (AMZN) continues to aggressively advertise on Google PLA, so risk of competition appears low, adds the analyst. Lee views Google as a positive structural story and keeps a Buy rating on the shares.

TikTok Policy issued the following statement on the enactment of "the TikTok Ban": "This unconstitutional law is a TikTok ban, and we will challenge it in court. We believe the facts and the law are clearly on our side, and we will ultimately prevail. The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation. This ban would devastate seven million businesses and silence 170 million Americans. As we continue to challenge this unconstitutional ban, we will continue investing and innovating to ensure TikTok remains a space where Americans of all walks of life can safely come to share their experiences, find joy, and be inspired." Publicly traded companies in the social media space that compete with TikTok include Meta Platforms (META), Alphabet (GOOGL), Pinterest (PINS) and Snap (SNAP). Reference Link

Meta Platforms (META), the parent company of Facebook, Instagram, WhatsApp, Oculus, Threads and other brands, is scheduled to report first quarter 2024 results after market close on Wednesday, April 24 with a conference call scheduled for 5 pm ET. Here's what to... To see the rest of the story go to thefly.com. See Story Here