Does the TikTok Ban Make Alphabet Stock a Buy?
On April 24, 2024, President Biden signed H.R. 815 into law, providing $95.3 billion in foreign aid to Israel, Ukraine, and the Indo-Pacific region. As part of that new law, ByteDance's social media platform TikTok will be banned on Jan. 15, 2025 unless its Beijing-based parent company divests the U.S. subsidiary to an American owner.
That decision was widely seen as a major victory for Meta Platforms (NASDAQ: META), which owns Facebook, Messenger, Instagram, and WhatsApp. TikTok had emerged as a major threat to Meta's social media platforms over the past few years, and Meta had been aggressively expanding its own Reels short video platform to keep up.
However, the TikTok ban could also help Meta's rival Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google and YouTube. Let's see how TikTok challenged Alphabet -- and how a ban would remove those competitive threats.
Source Fool.com
Meta Platforms Inc. Stock
With 12 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 500 € there is a slightly positive potential of 14.39% for Meta Platforms Inc. compared to the current price of 437.1 €.
