AMD Stock, Google Stock, Netflix Stock - Top Tech News For Tuesday

AMD stock Google stock and Netflix stock - Top news for Tuesday
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The tech sector has come abuzz with earnings announcements adding to the excitement. However, there's a lot happening outside of earnings, and precisely to cover such key events, here's our roundup of top tech news. AMD is in the news again, and reportedly, Mubadala, its biggest investor is selling shares. Netflix reported an acquisition, buying the creator of Logan and Captain America, with the aim of expanding its content library. Meanwhile, Alphabet's Google has decided to take one more shot at creating a successful social media and messaging service by leveraging the popularity of its video content site, YouTube. Here's all of that in more detail, including how it matters to you.

Mubadala Sells Advanced Micro Devices Inc (NASDAQ:AMD) Shares Again.

On Friday, Abu Dhabi’s Mubadala Investment Company reportedly sold shares of Advanced Micro Devices Inc (NASDAQ:AMD), in its second sale of shares in the semiconductor company this year. State-owned Mubadala sold 40 million shares, translating to 3.9 percent of the outstanding shares of the company, inclusive of warrants and excluding the convertible bonds, according to Mubadala spokesman Brian Lott. Neither the price of sale, nor the value of the deal were disclosed. Reuters estimates that the sale value could be about $530 million, based on AMD’s closing price of $13.24 on Thursday, the day before Mubadala reported the sale.

In spite of the latest sale, and the sale of 45 million shares in March, Mubadala continues to be the largest shareholder in AMD, with 57 million common shares and 75 million warrants, representing a 12.9 percent stake. According to the report, Lott is quoted as saying, "This is in line with Mubadala’s strategy as a financial investor with a long-term perspective, to optimize our shareholding in certain assets and monetize them at the appropriate time". Interestingly, reports from March this year suggest that Mubadala bought shares of AMD back in November 2007, and the average closing price per share in November was about $11.8, implying a potential profit of about 12% over close to 10 years.

AMD shares seem to have responded well to the news, and were up by over 2.3% on Monday. AMD stock has bounced back after finding support from its 50 day Simple Moving Average (SMA), and now faces resistance from its 20 day SMA, which is about 2.6% higher than yesterday's closing price.

Alphabet Inc's (NASDAQ:GOOGL) Google Is Making Yet Another Attempt At Social Networking.

Alphabet Inc's (NASDAQ:GOOGL) Google is making yet another attempt at social networking and messaging. Google has made several attempts at gaining a foothold in the social networking market. These attempts include the likes of Orkut and Google+, although none could replicate or even come close to the impact Facebook has had in this space. Now, Google is trying to leverage one of its priced assets, YouTube, to take yet another shot at social networking and messaging.

YouTube had been testing new in-app functionalities with users in select markets, which allowed them to share videos with their friends and even chat within the app. Now, YouTube is reportedly launching this new sharing feature to users all over the world. The feature allows YouTube users to open a new tab within the mobile app to connect and share content with friends – effectively replicating Facebook's Messenger. For a while now, YouTube has been touted as a key asset for Google, driving the consumption of video content and advertising. If YouTube's new features become popular with its users, it could give the platform what it currently lacks - the network effect - while allowing Google to stay in the hunt.

Netflix Buys Millarworld Even As Investors Fund Competition.

Nearly every media publication carried the news yesterday that Netflix (NASDAQ:NFLX) was buying Millarworld. While some of us may not be familiar with the name, most of us have heard of founder Mark Millar's work. Prior to the creation of Millarworld, Millar was credited with the creation of several comic books for Marvel including names like 'Old Man Logan' and 'Civil War'. These were later turned into blockbuster hits like Logan and Captain America: Civil War. Netflix's move to buy the company is an attempt to expand its content library. While Netflix will leverage the company's existing content, it is expected to work with Millarworld to come up with new films, series and shows. Netflix's bet on original (and thereby exclusive) content seems to be paying off as the company has registered strong growth in subscribers.

Meanwhile, Iflix, an Asia-based competitor providing streaming services in emerging markets, has landed $133 million in fresh funding. The company's round of funding was led by U.S. media conglomerate Hearst. Hearst's investment portfolio consists of popular names like BuzzFeed, Vice and Roku. Also part of the deal was "new backer EDBI — the corporate investment arm of the Singapore Economic Development Board — alongside undisclosed clients of Singapore-based DBS bank." Iflix's existing investors include the likes of Liberty Global, Malaysia’s Catcha Group, Evolution Media, UK broadcaster Sky, and Jungle Ventures, among others. Iflix, which was started in May 2015, now operates streaming services in 19 countries including the Middle East and Africa, with subscriptions priced at around $3 a month, compared to Netflix, which charges about 3 times as much.

Since our daily trading ideas section has received a very encouraging response from readers, we decided to expand our coverage on related topics. You should find some technical trading ideas here. For trading ideas apart from these, you can check out our daily trading ideas section. Looking for fundamentally solid tech stocks? Check out our top tech stock picks, which have beaten the NASDAQ by over 146%.


Vikram Nagarkar Vikram Nagarkar   on Amigobulls :

Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice.

Buying and selling of securities carries the risk of monetary losses.Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions.

Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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