Ahead of Facebook Inc's financial results on Monday, the social media giant is expected to be hurt more than others in big tech by Apple Inc's iPhone privacy changes, investors fear, after Snap Inc missed revenue targets last week.
There can be "no more denying" the ramifications of Apple's privacy push, Ygal Arounian, managing director of internet equity research at Wedbush Securities, said in a research note after Snap's results.Google, is most likely to be hit compared with the company's tech peers, Evercore ISI analysts said in a research note.
Analysts are targeting $29.5 billion in revenue for the third quarter, a 37% increase from the year-ago period, according to IBES data from Refinitiv. Shares of Facebook have risen 19% year-to-date. On the other hand, Twitter, which reports third-quarter results on Tuesday, is likely to be spared because the social networking site is mainly used for brand advertising, said Audrey Schomer, a senior analyst at research firm eMarketer.
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