Washington's apparent assault on big tech companies like Alphabet, Facebook and Amazon could be a blessing in disguise for investors as they present a massive buying opportunity.
also reported the FTC and Justice struck a deal that put Amazon under the FTC's microscope, putting pressure on the e-commerce giant.
Tech has been "really taking it on the chin more than any other sector due to two reasons: One, because it's been the most profitable sector in the last two years. It's also a direct target of these tariffs," said Jeff Kilburg, CEO of KKM Financial. The latest move down is a "digestion of whether Google and some of these tech giants will be broken up.
"In terms of anti-competitive behavior, the fact that Google and Facebook services are largely free for consumers, and that the growth of Facebook and Instagram created more competition for Google in recent years, would seem to dilute arguments that the 'duopoly' is unfriendly to consumers," he said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
If you want to know what a US tech crackdown may look like, check out what Europe didHere's how Google, Facebook, Amazon and Apple have fared among EU regulators.
Read more »
Tech Giants Google, Facebook and Amazon Intensify Antitrust DebateThe backlash against Silicon Valley comes amid a broader movement to rethink antitrust in general and marks the scrambling of the old left-right divide over government intervention in the market.
Read more »
Amazon wants its fleet of delivery robots to be treated like pedestrians when they take to the streetsAmazon launched its six-wheeled delivery robot, Amazon Scout, in January. It is currently being tested in a neighborhood in Washington state.
Read more »
20 Of The Best Add-On Items You Can Get On AmazonInexpensive little extras that might actually be better than the rest of your order.
Read more »
Amazon unveils a chopper-plane mashup to deliver packagesAmazon has unveiled a revolutionary new drone — part helicopter and part science-fiction aircraft — that the company expects to use for test deliveries of toothpaste and other household goods starting within months.
Read more »
Amazon's Bezos says robotic hands will be ready for commercial use in next 10 yearsAmazon.com Inc Chief Executive Jeff Bezos said on Thursday he expects there will...
Read more »