Disney CEO Bob Iger's end game for the house of mouse does not necessarily have to be a sale to Apple (AAPL), Amazon (AMZN) or Google (GOOGL), nor does it have to be a merger of equals with someone such as Comcast (CMCSA, the leading candidate to acquire WWE). Batman to the rescue. An acquisition … Continue reading Disney’s Next Deal
Analysts estimate that META will grow revenues in 2023 over 2022. However, the estimates I see imply that revenue growth will be back-end loaded. We know how that usually ends. I see META struggling to generate year-over-year Revenue growth and expect for 2023 to be a down Revenue year. Zuckerberg is not an Operator. META's … Continue reading META: Where Will Growth Come From?
The NASDAQ Composite has had a nice little run, up more than 9% year-to-date. However, I would exercise caution ahead of Tech earnings and the Fed's January 31st / February 1st FOMC meeting. We have written on numerous occasions that we expect management teams to take a conservative approach to 2023 Revenue and EPS guidance. … Continue reading Technology Stocks Are Not Yet In The Clear
I don't buy the idea that anyone other than Comcast (CMCSA) will acquire WWE (WWE). As I previously wrote, Comcast partners with WWE, knows the brand, features WWE content on its Peacock streaming service, did months of heavy lifting to port WWE Network content to it's Peacock platform and has built relationships with WWE executives. … Continue reading WWE Is Comcast’s To Lose
Past recessions have taught us that leading Technology companies typically gain marketshare during down economies. I would expect this economic down period to be no different. Good news for Amazon (AMZN), Microsoft (MSFT), and others. Amazon (AMZN) and Microsoft (MSFT): Amazon's AWS unit and Microsoft's Azure unit will be mixed bags: Usage: Usage - and … Continue reading Technology Leaders Will Gain Share
Irrational valuations still exist, especially in the private market thanks to more than a decade of easy Fed policy. 2023 will be the year that venture firms write down portfolio valuations if they have not done so already. We wrote about OpenAI's natural language offering - ChatGPT - last week. For what it's worth, OpenAI … Continue reading OpenAI’s Rich Valuation
The WSJ reports that YouTube is negotiating with the NFL for exclusive rights to broadcast NFL Sunday Ticket. YouTube/Google and Amazon Prime (Thursday night NFL games), are essentially pursuing a U.S. audience with their respective NFL strategies. The NFL ought to court YouTube in particular given that YouTube - not TikTok, not Instagram nor Snap … Continue reading YouTube & The NFL
I am not buying the talk that Bob Iger's mission is to identify his successor at Disney (DIS). A sale will most likely be Iger's final act as Disney CEO. Iger already whiffed once with his selection of Bob Chapek as his successor. Iger will not make the same mistake twice. Rather than name a … Continue reading Bob Iger’s Mission? Sell Disney.
We expect Amazon Prime to be the most active streaming service over the next number of years in terms of its overall commercial activity. This will be especially true as it relates to: 1.) strategic partnerships with other content providers across content categories (sports & entertainment), as well as 2.) acquisitions. Apple (AAPL) and Amazon … Continue reading Amazon Prime: The Most Active Streamer
I would not be surprised to see Salesforce (CRM) and Oracle (ORCL) combine in 2023 or 2024. A Salesforce, Oracle deal used to be rumored back around the time of CRM's 2004 IPO which raised $110 million. At that time Oracle Co-Founder & CEO Larry Ellison was pushing hard on building ORCL's Application layer (largely … Continue reading Oracle + Salesforce