TikTok Users Delete App at 150% Higher Rate Following Joint Venture Announcement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: CNBC
- Surge in Uninstalls: Following the announcement of a new joint venture, TikTok's daily average app uninstalls in the U.S. have surged nearly 150% over the past five days, indicating strong user backlash that could impact the platform's long-term user base.
- Privacy Policy Controversy: Users expressed skepticism about the updated privacy policy after the joint venture announcement, particularly regarding sensitive data collection terms, although these provisions were present in an archived version from August 2024, highlighting ongoing concerns about data privacy.
- Creators' Uncertainty: Many TikTok creators reported issues with video uploads, prompting them to shift their content to Instagram and YouTube, reflecting how the platform's instability may affect creator engagement and user retention.
- Competitors Benefit: While TikTok's active user levels have remained relatively flat, competing apps like UpScrolled saw downloads increase over tenfold in the past week, indicating rising user interest in alternative platforms that could threaten TikTok's market share.
Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 USD and a high forecast of 390.00 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.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 327.930
Low
279.00
Averages
338.25
High
390.00
Current: 327.930
Low
279.00
Averages
338.25
High
390.00
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.
