Alphabet became the fourth U.S. technology company to reach $1 trillion in market value, as Big Tech becomes an ever bigger part of the economy.
last week for patent infringement. The complaint alleges that Google copied Sonos's technology for wireless speaker systems while the two companies were working together as early as 2013. Google disputes the claims.
The bigger story Sonos tells in the filing is one that surely resonates with thousands of smaller tech companies struggling to survive in a world where Google, Amazon and Apple can sell products at a loss, killing competitors along the way while sucking vast amounts of data into their orbit.
Even with Alphabet expanding its enterprise software business and building up its roster of gadgets, the ad division continues to chug along and pump out cash. Advertising revenue climbed 17% in the third quarter to $33.9 billion, and Google is gearing up for an event-filled 2020.
"This is a big year for global advertising," said Mahaney, who has a buy rating on both stocks. "All those are big advertising events. There are two companies I look at — Facebook and Google — that are clear derivative plays off that. Fundamentally, we think they're really well set up for the year and the quarter."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK tech investment grew faster than the US and China in 2019, study saysVenture capital funding for British start-ups grew by 44% to a record $13.2 billion in 2019, according to new research.
Read more »
Opinion | Let’s Make a Deal on Tech TaxesFrom WSJopinion: America should suspend its proceedings on sanctions and work with Europe toward an agreement on an international digital tax, writes BrunoLeMaire
Read more »
Why Google's elimination of third-party cookies is unlikely to kill ad-tech stocksHere's what analysts had to say about some of the biggest ad-tech stocks in the aftermath of Google's announcement to end third-party cookie support.
Read more »
US-China trade deal: Tech cold war will rage on, according to experts - Business InsiderThe US and China's tech cold war is far from over, even with Trump's trade deal. Here's why tech companies will remain on the front lines of the trans-Pacific rivalry.
Read more »
Which Tech Company Is Really the Most Evil?The 30 most dangerous corporations in the industry, ranked by the people who know.
Read more »