2017 was a strong year for big-cap stocks, as Facebook, Amazon, Netflix, and Google all handily beat the returns delivered by the NASDAQ. James Cakmak, Internet Analyst at Monness, Crespi, Hardt, was with us to deliver his tech stock outlook for 2018.
The past year delivered remarkable returns for big tech stocks, and Cakmak says the momentum will continue into 2018. Despite financial success, he sees headline risks persisting for Facebook, Amazon, and Google as regulatory scrutiny looms. The analyst names Amazon as the "most politically savvy" tech company, saying they are getting closer to the government as agencies adopt AWS and cities try become the location of choice for its new headquarters.
Facebook has made an aggressive move forward with its video strategy as it looks to diversify its revenue from traditional ads. Cakmak weighs in on whether Facebook Watch will be the next big way for them to bring in revenue.
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.