Biden Administration Demands TikTok To Migrate Source Code From China To U.S. Or Another U.S. Government-Approved Location; TikTok Says U.S. Ban Is Inevitable Without Court Order Blocking The Law; ByteDance Says Biden Administration Refused Serious Settlement Talks On TikTok's Fate Since August 2022
Portfolio Pulse from Benzinga Newsdesk
The Biden Administration has demanded that TikTok migrate its source code from China to the U.S. or another U.S. government-approved location. TikTok has stated that a U.S. ban is inevitable without a court order blocking the law. ByteDance claims that the Biden Administration has refused serious settlement talks on TikTok's fate since August 2022.
June 20, 2024 | 5:25 pm
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NEUTRAL IMPACT
Oracle (ORCL) could be impacted by the TikTok situation as it was previously considered for a partnership to manage TikTok's U.S. operations.
Oracle's involvement in TikTok's U.S. operations could resurface, but the impact is uncertain without further developments.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Alphabet (GOOGL) might experience a positive impact if TikTok is banned, as it could lead to increased usage of YouTube.
A TikTok ban would likely drive users to alternative video platforms like YouTube, potentially increasing Alphabet's ad revenue and user engagement.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Meta (META) could benefit from a potential TikTok ban in the U.S. as it may reduce competition in the social media space.
A ban on TikTok would likely drive users and advertisers to other social media platforms, including Meta's Facebook and Instagram, potentially increasing Meta's market share and revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Snap (SNAP) may see increased user engagement and advertising revenue if TikTok is banned in the U.S.
With TikTok potentially out of the picture, Snap could attract more users and advertisers, boosting its engagement metrics and financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80