$Snap Inc(SNAP)$
Snap posted its latest quarter’s earnings yesterday, it could’ve gone better. 🤦 Over $25 billion of the company’s value was wiped out in the minutes after its earnings release dropped.
The company said that it expects Q4 revenue to be between$1.16 billion and $1.2 billion. Those figures represent pitiful growth compared to recent quarters. Snap CEO Evan Spiegel faulted Apple’s new privacy changes for the lost revenue, indicating that it made it“more difficult for .. advertising partners to measure and manage their ad campaigns for iOS.”
The fears about Apple’s new privacy changes boiled over to other social media companies like Facebook(-5%) and Twitter(-5%), which fell in sympathy with Snap on the news.
Due to the $Apple(AAPL)$ 's new policy change, ad sales warning drags other tech giants like $Facebook(FB)$ $Amazon.com(AMZN)$ $Twitter(TWTR)$ $Alphabet(GOOGL)$ .
Is this a good opportunity to buy the dip?
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