Wired
Bloomberg, a major overseas media, reported on October 22, local time, that the stock prices of SNS-related companies such as photo sharing app operators plummeted in the US stock market. At one point, it seems that the market capitalization of 150 billion dollars (about 17 trillion yen) has been lost.
Snap’s stock price plummeted
According to Bloomberg, the stock price of Snap, which operates the photo sharing application “Snapchat”, fell by about 25% from the previous day on October 22, local time, recording the largest decline ever. Snap’s stock alone has lost about $ 29 billion in market capitalization.
Snap announced its financial results for the third quarter of 2021 (July-September) on October 21, 2021 local time, and although it recorded sales of 1 billion dollars (about 114 billion yen), it is about 3 million from the forecast in advance. It was revealed that it was as small as a dollar (about 340 million yen).
One of the reasons why Snap’s performance was lower than expected was that advertising revenue decreased due to the impact of Apple’s “App Tracking Transparency (ATT)”.
Stock prices of SNS-related companies such as Facebook also fell
It has been reported that iOS app developers’ revenues have decreased by 15% to 20% due to Apple’s ATT refusing to track from apps, and Facebook has posted a counter-advertisement, etc. There is concern that it will have a significant impact on the profits of SNS-related companies.
According to Bloomberg, stock prices of Facebook, Twitter, Google’s parent company Alphabet, etc. fell sharply on October 22, local time, and the rate of decline from the previous day was 3% to 5%, respectively.
Alphabet, Facebook, and Twitter are each scheduled to report their quarterly financial results next week, and it seems that they are wary of worsening profits due to the influence of Apple’s ATT.
At the time of writing the article, the market capitalization of about 150 billion dollars (about 17 trillion yen) has been lost due to the decline in stock prices of SNS-related companies.
Source: Bloomberg
Photo: New York Stock Exchange
(seng)
Source: iPhone Mania