日本认定谷歌公司违反《反垄断法》 勒令其整改 金十数据4月15日讯，日本公平交易委员会15日发布消息称，认定美国谷歌公司要求智能手机厂商装载 该公司搜索服务APP、并禁止加装竞争对手搜索服务的行为违反了日本《反垄断法》的规定，勒令谷歌 纠正相关做法。这是日本首次对IT巨头作出这一行政令。 ...

Back in April ‘23, we assessed Alphabet Inc. (NASDAQ: GOOG ), (NASDAQ: GOOGL ) using a DCF analysis and recommended our readers either hold the stock trading at $106.90 or consider taking a position in the Nasdaq composite index. TheWe write about companies trading at attractive valuations with strong durable competitive advantages. Investment Principles- Invest in companies with consistent earning power and durable competitive advantages.- Invest in companies where we can get a sufficient margin of safety. ...

Core Insights - The primary objective is to identify a company's intrinsic value and locate solid companies that are trading at a significant discount [1] Group 1 - The analyst has a background in Philosophy with a B.A. and M.A. from UCLA and the University of Oklahoma, respectively, and plans to pursue an M.S. in Finance to enhance expertise in the financial sector [1]

Group 1 - Alphabet Inc. has experienced a significant decline of 25% since the release of its 4Q FY2024 earnings report, primarily due to a mixed earnings performance [1] - The initial selloff was triggered by the earnings report, which did not meet investor expectations [1] Group 2 - The company is listed on multiple exchanges, including NASDAQ and TSX, under the ticker symbols GOOG and GOOGL [1]

Core Viewpoint - Alphabet's stock is experiencing a rebound amid market volatility, with a notable increase in share price despite a challenging trading environment in 2025 [1][2][3]. Group 1: Stock Performance - Alphabet's share price rose by 2.4% as of 3 p.m. ET, with earlier gains reaching up to 3.1% during the trading session [1]. - The stock is down approximately 17% year-to-date in 2025, indicating significant volatility in the market [2]. Group 2: Layoff News - Recent layoffs at Alphabet's platforms and devices segment have been reported, which typically signal business struggles; however, this is perceived positively by investors as it reflects a fiscally disciplined approach in uncertain economic conditions [3]. Group 3: Market Context - The broader market is showing recovery momentum following a tumultuous week, with news of a 145% tariff on Chinese imports and a 90-day suspension of tariffs on other countries contributing to market optimism [4]. Group 4: Valuation and Future Outlook - Alphabet is currently valued at approximately 17.4 times this year's expected earnings, suggesting it is undervalued based on conventional metrics, especially considering its sales and earnings momentum [5]. - The company's exposure to the Chinese market and ongoing macroeconomic uncertainties may lead to continued volatility in its stock trading [5].

Core Viewpoint - The Trade Desk (TTD) has experienced an 18.2% decline in shares over the past month due to market volatility and company-specific challenges, including weaker-than-expected financial results and slower adoption of its new platform, Kokai [1][4][5]. Group 1: Market Context - Broader market indices have been affected by escalating trade tensions, particularly between the United States and China, leading to concerns over supply chain disruptions and inflationary pressures [1]. - President Trump's announcement of a 90-day pause on reciprocal tariffs initially boosted market performance, but indices fell the following day, indicating ongoing volatility [1]. Group 2: Company Performance - TTD's fourth-quarter 2024 results were weaker than expected, contributing to investor caution [4]. - The stock has underperformed compared to the Zacks Computer & Technology sector and the Zacks Internet Services industry, which declined by 8.4% and 8.3%, respectively [4]. - TTD has also lagged behind digital advertising peers like Alphabet and Amazon, which saw declines of 8.4% and 8.9% in the same timeframe [5]. Group 3: Growth Opportunities - TTD is benefiting from increased digital spending in areas such as Connected TV (CTV) and retail media, reporting over $12 billion in spending on its platform in Q4 2024 [6]. - The company is advancing support for UID2, a privacy-centric identity solution aimed at enhancing digital advertising relevance while prioritizing user privacy [7]. - Major streaming platforms are investing in programmatic advertising and adopting UID2, which is expected to enhance targeting capabilities for advertisers [8]. Group 4: Strategic Developments - TTD introduced its Ventura Operating System for CTV, aimed at improving efficiency and transparency in advertising [10]. - The acquisition of Sincera, a digital advertising data company, is expected to enhance TTD's programmatic advertising platform by improving data quality and campaign optimization [11]. - The company is actively integrating AI across its operations to meet evolving client needs [12]. Group 5: Challenges - The rollout of Kokai is slower than anticipated, leading to operational difficulties and potential impacts on performance [13]. - Increasing macroeconomic uncertainty and trade tensions may squeeze advertising budgets, posing challenges for TTD [14]. - The competitive landscape of the digital advertising industry, dominated by giants like Google and Amazon, continues to pressure TTD's market position [14]. Group 6: Financial Outlook - TTD's valuation is considered high, with a forward 12-month Price/Sales ratio of 7.99X compared to the industry's 4.5X [15]. - The stock is trading below its 50 and 100-day moving averages, indicating bearish sentiment among investors [16]. - Analysts have revised earnings estimates downward, reflecting a cautious outlook for the company [15][14].

Core Insights - Baidu, Inc. is compared to Alphabet Inc. as a collection of businesses, with its core focus on digital marketing and its Chinese search engine [1] - The company employs a value investing approach, targeting high-growth opportunities across various industries [1] - The discounted cash flow (DCF) valuation methodology is primarily used for assessing intrinsic value, complemented by business model frameworks from prestigious institutions [1] Company Overview - Baidu's main business revolves around digital marketing, similar to Alphabet's operations [1] - The company aims to identify firms that can significantly impact the global landscape in the future [1] Investment Strategy - A value investing approach is prioritized, focusing on robust business models and strategic foresight [1] - The analysis incorporates various valuation techniques, ensuring a comprehensive understanding of a company's strategic positioning [1] Analyst Background - The analyst holds an MBA from IESE Business School and is a chartered financial analyst with the CFA Institute [1]

Core Argument - The lawsuit claims that Google is using its education products to secretly track students' online activities and collect personal data for profit, violating privacy laws and harming children [1][4][8]. Summary by Sections Google’s Education Products Usage - Nearly 70% of U.S. schools utilize Google's "Workspace for Education" products, with several Bay Area school districts confirmed to be using the software [2]. - Google embeds tracking technologies in its products to create unique "fingerprints" for each child, allowing for extensive monitoring of their online activities [3][5]. Allegations of Privacy Violations - The lawsuit alleges that Google harms children by violating their privacy, making personal data vulnerable to cybercriminals, and failing to inform parents about data collection practices [4][8]. - Google is accused of violating federal wiretapping law and California privacy law, with plaintiffs seeking unspecified damages [4]. Data Collection and Usage - Google allegedly converts large amounts of student data into detailed profiles for marketing purposes, creating significant economic value for the company [7]. - The lawsuit claims that the data collected exceeds what is necessary for educational activities, and students cannot opt out of using Google's products [8][10]. Previous Legal Issues - Google has faced similar allegations in the past, including a $170 million settlement with the U.S. Federal Trade Commission in 2019 for illegally harvesting children's data from YouTube [5]. - In 2020, New Mexico sued Google over data collection practices, resulting in a $3.8 million settlement to establish a privacy initiative for children [5]. Impact on Education - The lawsuit argues that the commercialization of children's data negatively impacts their education and social empowerment [14]. - Google’s products are claimed to analyze and predict student performance, which is marketed to schools as a means to personalize education [11][13].

Group 1: Market Outlook and Investment Strategy - During market downturns, panic selling is not advisable unless a company's investment thesis has changed due to recent developments [1] - Investors are encouraged to buy shares of top companies during market corrections, specifically mentioning Alphabet and DexCom as excellent growth-oriented options [2] Group 2: Alphabet (GOOG) - Alphabet's revenue is primarily derived from advertising, which may be negatively impacted by economic downturns and reduced ad budgets from consumers and businesses [3] - Despite short-term uncertainties, Alphabet's long-term prospects remain strong due to its dominance in search, cloud computing, AI, and video streaming [4] - The company generated significant ad revenue and its cloud and video streaming segments ended 2024 with a $110 billion annual run rate, surpassing initial expectations [5] - Alphabet benefits from a wide moat created by network effects and a strong brand, making it a top stock to consider during market corrections [6] Group 3: DexCom (DXCM) - DexCom may face rising costs and shrinking margins in the short term due to tariffs, but it continues to expand its manufacturing capabilities internationally [7] - The company is a leader in continuous glucose monitoring (CGM) systems, with significant growth potential driven by increased reimbursement coverage and market expansion [8][9] - There is still a large untapped market for CGM technology, with only about 1% of adults with diabetes worldwide having access to such devices [10] - DexCom's growth is supported by network effects, as a larger installed base encourages third-party companies to create compatible devices and accessories [12]

Core Viewpoint - Tucows Inc. has announced the nomination of five new individuals for its Board of Directors, reflecting a strategic refresh aimed at supporting the company's growth and innovation [1][2][3]. Group 1: New Board Members - The newly-nominated directors include Dr. Sandra Matz, Laurenz Malte Nienaber, Allen Taylor, Jeffrey Tory, and Stephan Uhrenbacher, each bringing diverse expertise in finance, technology, marketing, and entrepreneurship [2][3]. - Dr. Sandra Matz is a leading voice in data-driven behavioral science, specializing in consumer behavior and business outcomes [3]. - Laurenz Malte Nienaber has extensive experience in investment strategy and governance, contributing analytical rigor to board leadership [4]. - Allen Taylor has a strong background in private equity operations and financial turnarounds, enhancing the board's financial insights [5]. - Jeffrey Tory has nearly four decades of experience in investing in North American growth stocks, aligning his expertise with Tucows' long-term vision [6]. - Stephan Uhrenbacher is a serial entrepreneur with a focus on tech and sustainability, bringing leadership experience from various startups [7]. Group 2: Board Transition - The nominations indicate Tucows' commitment to refreshing its Board with diverse perspectives to support innovation across its businesses, including Ting Internet, Tucows Domains, and Wavelo [8]. - The company expresses gratitude to outgoing directors Robin Chase, Erez Gissin, Allen Karp, Jeffrey Schwartz, and Gigi Sohn for their significant contributions to Tucows' leadership and growth [9][10].