Weekly Tech Update

Google's antitrust loss, the 'Magnificent Seven' meltdown, and Meta's Threads growth are recent pivotal events that investors should closely monitor. Each of these stories underscores the importance of staying informed and adapting to the ever-changing tech landscape.

Google Antitrust Loss: Potential Revenue Impact

A major legal ruling has put 谷歌 under intense scrutiny. A federal judge declared Google's deals to be the default search engine on browsers and mobile phones illegal, labeling these practices as monopolistic. If Google fails to successfully appeal this decision, it faces substantial revenue losses and a decrease in search queries. Kent Walker, Google's head of global affairs, mentioned that the U.S. District Judge Amit Mehta is expected to rule on potential remedies soon. These remedies could include ending Google's practice of paying to be the default search engine on devices from companies like Apple and 三星电子 . This decision could drastically alter Google's market landscape, pushing each device or browser maker to select its own default search engine or implement a choice screen for users.

Magnificent Seven Meltdown: Market Cap Decline

The 'Magnificent Seven'—a grouping of seven large technology companies—experienced a significant market cap erosion, losing a combined $1.28 trillion over three sessions. This technology-led selloff included a dramatic $650 billion drop on Monday morning alone. Shortly after Monday's open, the group was down $659 billion in market cap based on intraday action. This sharp decline approaches the record one-day loss of $744 billion seen on July 24. The companies in this group include prominent names like 苹果 , 微软 , Alphabet Inc. , 亚马逊 , 英伟达 , Tesla , and Meta Platforms.

Meta's Threads Growth: User Engagement Milestones

Meta Platforms Inc continues to expand its social media dominance with its latest platform, Threads. Threads recently hit the milestone of 200 million active users in just 13 months since its launch in July 2023. This rapid growth was confirmed by Adam Mosseri, head of Instagram, and follows Meta CEO Mark Zuckerberg's announcement during the company's fiscal second-quarter 2024 earnings call. Threads' growth trajectory has been remarkable, reaching 150 million users by April 2024 and 175 million by its first anniversary in July before quickly jumping to 200 million in August. In comparison, Threads' main competitor, X (formerly Twitter), reported over 600 million monthly users in May, according to its owner Elon Musk.