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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN


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California posts final regulations under landmark digital privacy law impacting consumers, businesses

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08/14/2020 | 04:12pm EDT
FILE PHOTO: The logos of mobile apps, Google, Amazon, Facebook, Apple and Netflix, are displayed on a screen in this illustration picture

Final regulations that guide businesses and consumers under California's new digital privacy law went into effect on Friday, marking a significant step towards giving Americans the right to request their data be deleted from e-commerce websites and social media.

The California Consumer Privacy Act (CCPA), effective since the start of 2020, oversees the data collection practices of U.S. companies and allows state residents to opt out of having data sold to third parties.

The law gives California residents the right to see the specific pieces of personal data that a company has collected on them - such as smartphone locations, voice recordings, ride-hailing routes, biometric facial data and ad-targeting data. They also have the right to know what kinds of third parties, a company has sold that information to.

The final rules mandate a business must provide consumers with timely notice, at or before the point of data collection, about the categories of personal information they are collecting and how it will be used.

It also allows residents to see the inferences that have been drawn about them, including predictions or categorizations related to a person's behavior and abilities.

The law in California, which has a population of close to 40 million, impacts roughly one in ten Americans.

The law covers tech platforms, ride-hailing services, retailers, cable TV companies, mobile service providers and others that collect personal data for commercial purposes, including Facebook Inc, Alphabet Inc's Google, Walmart and Amazon.com Inc.

It also covers companies collecting the personal information of 50,000 people or more every year.

The privacy bill was passed in June 2018 with a compliance deadline of Jan. 1, 2020. Since the
n many businesses have added "Do Not Sell My Info" links to their websiteshttps://reut.rs/3kN8MzW

Indications of how the state will handle enforcement will be tracked closely as companies continue to invest in compliance.

By Nandita Bose

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.50% 1466.02 Delayed Quote.9.45%
AMAZON.COM, INC. -0.92% 3144.88 Delayed Quote.70.19%
FACEBOOK 1.94% 261.79 Delayed Quote.27.55%
WALMART INC. -0.08% 137.14 Delayed Quote.15.40%
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Financials (USD)
Sales 2020 369 B - -
Net income 2020 15 998 M - -
Net cash 2020 51 861 M - -
P/E ratio 2020 100x
Yield 2020 -
Capitalization 1 575 B 1 575 B -
EV / Sales 2020 4,13x
EV / Sales 2021 3,44x
Nbr of Employees 798 000
Free-Float 81,3%
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Technical analysis trends AMAZON.COM, INC.
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Mean consensus BUY
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Average target price 3 698,93 $
Last Close Price 3 144,88 $
Spread / Highest target 33,6%
Spread / Average Target 17,6%
Spread / Lowest Target -13,2%
EPS Revisions
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Dave Clark Senior Vice President-Worldwide Operations
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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