Australia's Social Media Ban Sparks Global Attention, UK Likely to Follow
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Global Policy Trend: Australia's social media ban, effective December 10, mandates major platforms like Instagram and TikTok to implement age verification, with non-compliance penalties reaching AUD 49.5 million (USD 32 million), prompting discussions on similar policies worldwide.
- UK Legislative Developments: The UK House of Lords is expected to vote this week on amending the Children's Wellbeing and Schools Bill to potentially include a social media ban for under-16s, reflecting growing concerns over children's mental health.
- International Backlash and Resistance: Social media giants like Reddit and Meta have opposed Australia's ban, with Reddit filing a lawsuit claiming the new law excessively restricts political discourse, highlighting the pushback from tech companies against policy changes.
- Future Outlook: States in the U.S., such as California and Texas, are looking to implement similar bans by 2026, although federal-level action remains uncertain; however, state-level initiatives could influence national trends.
Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 312.00 USD with a low forecast of 236.00 USD and a high forecast of 350.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
38 Analyst Rating
31 Buy
7 Hold
0 Sell
Strong Buy
Current: 332.780
Low
236.00
Averages
312.00
High
350.00
Current: 332.780
Low
236.00
Averages
312.00
High
350.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
