While Facebook’s stock has tanked to an 18-month low, Google is trading near a record. Blame Apple’s impact on ad targeting.
to hit growth of 23% in the first quarter, while Facebook is projecting expansion of just 3% to 11%.
Dave Wehner, the CFO of Facebook parent Meta, said on Wednesday's conference call with analysts that, when it comes to Apple treating search more favorably than other apps because of the Google deal,"the incentive clearly is for this policy discrepancy to continue."Analysts see the correlation. Advertisers that can no longer get the level of targeting they want on Facebook are spending more on Google.
"Did Apple iOS changes trigger a market share shift from Facebook to Google?" MKM Partners' Rohit Kulkarni wrote in a report on Thursday."Yes, we believe so." MKM has a buy rating on both tocks. , Facebook's operating chief and a former senior executive at Google, said Apple's changes are most harmful to small and medium-sized businesses, which are most reliant on personalization and targeting in their advertising.Zuckerberg has been worried about this possibility for a long time. Without owning the device or operating system, Facebook can't fully chart its own path, and is always subject to the whims of other companies.
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