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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Alphabet Inc.    GOOGL

ALPHABET INC.

(GOOGL)
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Delayed Quote. Delayed Nasdaq - 09/25 04:00:00 pm
1439.06 USD   +1.14%
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U.S. downloads of WeChat, Signal apps spike after Trump threatens ban

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08/13/2020 | 04:45pm EDT
Illustration picture of Wechat app with U.S. flags

More users in the United States downloaded chat app WeChat and its encrypted alternative Signal, after President Donald Trump threatened to ban WeChat, owned by Chinese company Tencent, according to Sensor Tower data shared with Reuters on Thursday. 

WeChat users in the United States rushed to install the app before it could disappear from the app stores. Others, especially in China, sought alternatives like the encrypted Signal, owned by non-profit Signal Foundation. 

WeChat app downloads in the United States rose 41% in a six-day average from the week prior to the U.S. ban announced last Thursday, according to Sensor Tower. Signal app downloads in U.S. and China app stores separately jumped by 30% and 90%.

"Not only are alternatives like WhatsApp and Telegram officially blocked in China, but Signal has an inherent advantage in that it's well known for being strongly encrypted," Stephanie Chan, Mobile Insights Strategist at Sensor Tower told Reuters. Signal did not immediately respond to request for comment.

WeChat users have also turned to another Tencent-owned chat app, QQ, as the ban did not specifically cover this product. Its downloads in the United States have tripled in the past week, Sensor Tower data showed. 

Some Chinese immigrants and expats worry losing access to the popular WeChat could cut off contact with family and friends in China, where most popular U.S. instant messaging apps including Facebook, Whatsapp and Telegram have been blocked by the Chinese government's Great Firewall.

It was unclear how the administration could implement the ban on WeChat in mid-September. It could order Apple Inc and Alphabet Inc's Google to remove WeChat from their app store, or order the apps to stop offering access or updates to U.S. users.

Some users said they planned to access WeChat in the United States using a virtual private network (VPN), a common tool people in China use to hide IP address to evade government restrictions.

By Krystal Hu

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.14% 1439.06 Delayed Quote.6.23%
APPLE INC. 3.75% 112.28 Delayed Quote.47.41%
FACEBOOK 2.12% 254.82 Delayed Quote.21.57%
TENCENT HOLDINGS LIMITED -0.30% 503.5 End-of-day quote.34.05%
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Financials (USD)
Sales 2020 173 B - -
Net income 2020 30 739 M - -
Net cash 2020 120 B - -
P/E ratio 2020 32,3x
Yield 2020 -
Capitalization 1 003 B 1 003 B -
EV / Sales 2020 5,10x
EV / Sales 2021 4,17x
Nbr of Employees 127 498
Free-Float 90,2%
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Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Average target price 1 743,79 $
Last Close Price 1 439,06 $
Spread / Highest target 38,3%
Spread / Average Target 21,2%
Spread / Lowest Target -14,0%
EPS Revisions
Managers
NameTitle
Sundar Pichai Chief Executive Officer & Director
John LeRoy Hennessy Chairman
Ruth M. Porat Chief Financial Officer & Senior Vice President
Lawrence E. Page Director
Sergey Mikhaylovich Brin Director
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