Today we are watching…
1. Tencent (#10cent)
Chinese streamer Tencent Music does something very similar to Spotify, but it makes a lot more money. Investors are hoping for a rock and roll earnings release today from the firm, earning stable revenues from a stable user base. Slowly but surely, the numbers are growing! UBS just declared the company a “buy” with a 16% upside amid a “strong buy” analyst sentiment. Still, some price targets are about as accurate as a coin flip. The Chinese streamer is taking things one step at a time, focused today on beating expectations of $0.08 in profit per share on $928 million.
2. FitBit (#fitbit)
FitBit’s $2.1 billion acquisition process has been the experience of a lifetime for investors, the stock doubling in a month. However, the future of the fitness tracking brand now belongs to Google, set to do great and terrible things with its hardware and user base. The tech sector has been playing the waiting game for a smartwatch that can challenge the Apple Watch, but that wait may soon be over with the Pixel Watch! Smarter artificial intelligence-integration and a reliable voice assistant could help Google disrupt that market, and get its hands on even more of our data!