China says Nvidia broke competition rules, extends probe; stock off lows
Investing.com - Citizens JMP maintained its Market Outperform rating and $250.00 price target on Alphabet (NASDAQ:GOOGL) stock following YouTube’s first global NFL game broadcast. The tech giant, currently valued at $2.9 trillion, has seen its stock surge over 45% in the past six months, trading near its 52-week high of $242.25.
The streaming event attracted an average of 17.3 million viewers worldwide, with 16.2 million of those viewers coming from the United States.
Citizens JMP noted that YouTube’s viewership numbers compared favorably to Amazon’s first Thursday Night Football game, which drew 13.0 million viewers.
The research firm acknowledged key differences between the two broadcasts, specifically pointing out the different days of the week for the games, with YouTube’s game on Friday versus Amazon’s Thursday night broadcast.
Citizens JMP also highlighted that YouTube does not have a paywall for its NFL content, which represents another distinction from Amazon’s streaming approach.
In other recent news, Oracle has seen its stock price target raised by Melius Research from $270 to $370, while maintaining a Buy rating. This adjustment reflects Melius’s expectations for Oracle’s long-term revenue growth, driven by advancements in AI inferencing capabilities. Meanwhile, Alphabet faces significant regulatory challenges as the European Commission has imposed a €2.95 billion fine for anticompetitive practices in its digital advertising business. The Commission’s ruling requires Alphabet to cease these practices and submit a compliance plan by November 4, although Alphabet intends to appeal the decision. Additionally, Evercore ISI has increased its price target for Alphabet to $300 from $240, maintaining an Outperform rating. This decision follows Evercore’s survey results indicating Alphabet’s continued dominance in commercial-intent search use cases. These developments highlight ongoing regulatory scrutiny and analyst confidence in the tech sector.
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