Facebook Earnings Shows Snapchat Is DYING
Snap (SNAP), maker of SnapChat, had a monumental earnings miss that had the stock crashing like a green hippo falling off a cliff.
Look at the ugliness:
Snap blamed the weakness on Apple’s (AAPL) changes to iOS ad tracking policies.
So of course, everyone was freaking out about Facebook (FB).
Turns out… Facebook is doing okay.
The real story with SNAP is that everyone is moving to TikTok. And that’s the problem there.
Facebook beat earnings expectations and had a small miss on revenues - nothing disastrous.
And so the stock’s up a few bucks today.
But what’s really interesting is that starting in Q4, Facebook’s going to start breaking out results of its Facebook Reality Labs (FRL) segment.
That’s Facebook’s augmented and virtual reality unit.
And TRUST US - Facebook’s AR and VR stuff is going to be life changing.
I want you to remember you read it HERE first on Tech Stock Daily.
Yes, everyone knows Facebook is going into AR and VR, we’re the first to say Facebook’s AR/VR tech will blow your freaking mind to smithereens.
So at some point I want to get long Facebook (FB) stock to add to my other tech stock holdings like Apple (AAPL), Amazon (AMZN), and Match Group (MTCH).
Stay tuned for more emails!