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Meta is set to face an antitrust trial on April 14, initiated by the FTC, which alleges the company monopolizes the personal social networking market through its acquisitions of Instagram and WhatsApp. The trial will examine the FTC's market definition and whether Meta's actions harmed competition, with key testimonies from Meta executives and rivals like TikTok and Snap.
Web Summit Qatar 2025 attracted over 25,700 attendees, significantly surpassing last year's numbers, and featured 723 investors and 1,520 startups, with a notable increase in women-founded companies. The event saw the signing of 56 MoUs and the issuance of 156 operating licenses, highlighting Qatar's growing role in the global tech landscape. Key innovations included AI-driven travel tools from Qatar Airways and the launch of the MENA region's first AR academy in collaboration with Snap Inc.
Snap Inc. has partnered with Qatar’s Government Communications Office to launch the MENA region's first Augmented Reality Academy at Web Summit Qatar 2025. This initiative aims to enhance digital innovation and align with Qatar’s Vision 2030 by equipping developers with advanced AR skills, fostering a thriving creator ecosystem in the region. With over 85% of daily Snapchat users in MENA engaging with AR, the academy is set to unlock new opportunities and position Qatar as a leader in immersive technology.
Xreal has launched its latest augmented reality glasses, the Xreal One Series, featuring the new X1 chip, its first self-designed processor. This advancement eliminates the need for a companion device, enhancing connectivity with phones, laptops, and consoles. As competition intensifies from Meta and Snap, Xreal aims to redefine the AR glasses market, focusing on lighter form factors and improved user experiences, while addressing the current lack of compelling content.
Pinterest's fourth-quarter revenue forecast disappointed investors, leading to an 11% drop in shares after the company reported third-quarter revenue growth of 18% to $898.4 million. Despite a new $2 billion stock buyback program, competition from larger platforms like Meta remains a challenge, with the CFO noting softness in food and beverage advertising. Global monthly active users increased by 11% to 537 million, but rising operating expenses are a concern as the company invests in AI and product initiatives.
Pinterest Inc. experienced a decline in late trading after announcing a weak sales forecast for the holiday quarter, projecting revenues between $1.13 billion and $1.15 billion. This estimate falls short of Wall Street analysts' average expectations, highlighting the company's struggle to compete with larger rivals like Meta Platforms Inc. and Snap Inc.
Amazon shares surged 6% after reporting better-than-expected earnings, driven by growth in cloud computing and advertising. Revenue rose 11% to $158.9 billion, with earnings of $1.43 surpassing estimates. The company plans to invest $75 billion in capital expenditures for 2024, primarily to enhance technology infrastructure and capitalize on generative AI opportunities.
UBS has raised its price target for Snap Inc. from USD 12 to USD 13 while maintaining a "neutral" rating, citing stable third-quarter results and growth in direct advertising revenue, particularly from smaller advertisers. However, the company faces challenges in attracting larger brands for long-term partnerships, which are crucial for future revenue growth.
UBS has raised its price target for Snap (SNAP) to $13 from $12 while maintaining a Neutral rating. The firm's analysis indicates that Snap's Q3 revenue met expectations, and Q4 guidance is at the high end. Notably, the number of advertisers has more than doubled, suggesting growth primarily among smaller marketers, with larger ones taking longer to engage.
Alphabet reported a 35% surge in its cloud business and a 10% increase in digital ad sales, driven by election-related spending on YouTube. Despite strong earnings of $2.12 per share, analysts predict a decline in Google's ad market share as competition intensifies, particularly from Amazon and TikTok. Total revenue rose 15% to $88.27 billion, surpassing expectations.
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