On Monday, Alphabet (GOOG) revealed that it would enter the online travel segment. It would employ its AI, combined with its search engine.
Google introduced an AI search tool that helps the user build a travel itinerary. That would compete with Trip (TRIP), Expedia (EXPE), and Booking Holdings (BKNG). The competitive threat reminded investors that Google’s advertising is an existential threat for AppLovin (AAP), The Trade Desk (TTD), and to a lesser degree, Meta Platforms (META).
Bitcoin (BTC-USD) continued its unusual and expected downturn. Off 20% from its high, Bitcoin’s bear phase is hurting several stocks. Strategy (MSTR) traded near a 52-week low, yet CEO Saylor bought more Bitcoin.
Coinbase (COIN) tried to diversify away from Bitcoin by buying BVNK for $2 billion. Talks ended on November 11. Coinbase did not offer any reason for discontinuing the negotiations.
Hewlett-Packard Enterprise (HPE) risked falling at prices not seen since July. Morgan Stanley analysts downgraded HPE stock. It cited a surge in DRAM and NAND (memory) prices for warning about Dell Technologies (DELL) and HP Inc. (HPQ). HPE stock now has an equal-weighted rating. This is down from overweight. The price target fell by $3.00 to $25.00.
Dell will post its quarterly report and host a conference call on November 25.
Investors should ride the price hike momentum in memory prices. Micron Technology (MU) stock should rise from here.
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