37 days ago • Posted by William Ramstein
Citi downgrades Alphabet and Facebook from buy to neutral
With two of the largest and most profitable businesses in the S&P500, it comes as a surprise from Citi group that Google and Facebook would see a clamp down on profits in the near future. Citi analyst Bazinet, suggests that the ad business is not the sustainable way forward, and that those relying too much on it could be pained. This is due to something called the ''Sixth Turning'', what Bazinet says will be better macros, robust e-commerce and higher retailed traffic making growth harder to attain because of things like competition and rising ad intensity per dollar economics.
Source: Zero Hedge