Netflix’s Biggest Competitor Isn’t Disney, It’s Roku

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Shares of Roku (NASDAQ: ROKU) shot up an impressive 9% on Wednesday following a report from Macquarie Bank that predicted the company could triple its user base by 2022. This sent Netflix (NASDAQ:NFLX) sliding even further in what has been a costly year.

The same report compared the agnostic streaming platform to Netflix, stating that Roku could experience similar growth overseas. …


Don’t call it a comeback, but Big Tech leader Microsoft is manufacturing phones again with its new Surface Duo.

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Photo by Tadas Sar on Unsplash

After years of being out in the cold within the smartphone industry, Microsoft (NASDAQ: MSFT) has teamed up with Google (NASDAQ: GOOGL) to create its first phone device since 2016: The Microsoft Surface DUO.

Unveiled at Microsoft’s annual Surface event on Wednesday, the new device has two screens, connected by a hinge, which will be a direct competitor to Samsung’s Galaxy Fold, and will also run on the Android operating system.

“This product brings together the absolute best of Microsoft, and we’re partnering with Google to bring the absolute best of Android in one product,” said Microsoft Product Chief Panos Panay. …


This week, audio from private Facebook meetings with CEO Mark Zuckerberg was leaked, and it could show a company lagging behind.

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“It’s almost like the Explore Tab that we have on Instagram” is how Zuckerberg described social entertainment app ‘Tik Tok’, in one of the company’s leaked all-hands meetings.

The signs are worrying here for Facebook, as this description could not be more wrong. ‘TikTok’ offers a completely new form of social engagement unlike anything Facebook has produced before, and Facebook is failing to replicate it. Its copycat, ‘Lasso’ is completely underperforming, with just 425,000 downloads since November. …


With the U.S.-China trade war ongoing, phone makers Apple, Samsung, and Huawei battle it out for the fastest-growing population on Earth: India.

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The first Samsung foldable phone (not flippable, big difference) is expected to be launched in the Indian market today around 12 PM, as the company seeks to grab a substantial market share in the subcontinent.

Samsung Electronics, like Apple, has been struggling to take control of the Indian market following the success of cheaper Chinese phone competitors, OnePlus and Huawei. …


Forever 21 filed for bankruptcy protection yesterday, joining TopShop and other victims of the retail apocalypse.

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Photo take from Upsplash

Europe and Asian markets will be widely affected by the closure of hundreds of Forever 21 stores after the U.S. based retailer filed for bankruptcy protection last night. With 800 stores worldwide, the chain secured $350 million in financing to fund its restructuring, which will see it remain unaffected in Latin America.

The chain once welcomed flocks of teens rushing to obtain its products, but a slowdown in sales in its brick-and-mortar stores has caused serious damage. …


E-cigarette giant Juul, the leading e-cig manufacturer in the U.S. is facing criminal charges over growing health concerns surrounding its products.

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Juul has reportedly come under criminal investigation by federal prosecutors in California as the fallout from several deaths in the U.S., potentially caused by the practice of vaping, intensifies.

According to a report in the Wall Street Journal, a probe is in its early stages by the U.S. Attorney’s Office of the Northern District of California. When asked for a comment on the matter, Juul had nothing to say.

Only last week, Food and Drug Administration officials had warned the e-cigarette maker to stop running advertisements which depicted that vaping is safer than smoking regular cigarettes, following an outbreak of lung damage which has left more than 500 people in hospital and up to 9 people dead. …


The latest news coming out of Alphabet’s Google is that its scientists have found a way to make quantum computing an everyday reality, with its latest quantum computer achieving ‘quantum supremacy’.

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What is quantum computing? Well, Google (NASDAQ: GOOGL) may just make it available to all of us in the not-so-distant future, with its recently developed “Sycamore”, a 53-qubit quantum computer.

If you have ever seen Marvel’s ‘Ant-Man’ films, then you will probably have a very basic but somewhat misaligned idea of what quantum theory is. For those who are not fans of Paul Rudd’s superhero flick, then the simple answer is this:

‘Quantum theory explains the nature and behavior of energy and matter on the quantum (atomic and subatomic) level.” …


Former Tesla executive Sanjay Shah is the new COO of Beyond Meat, having now represented two very forward-thinking companies.

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Beyond Meat Inc (NASDAQ: BYND) said on Thursday it has named former Tesla Inc (NASDAQ: TSLA) executive Sanjay Shah as chief operating officer, effective September 18.

Tesla, known for its sustainable energy investments in electric vehicles and solar energy, employed Shah in 2011 and saw him rise to the role of senior vice president of energy operations. He will now take part in a different kind of sustainability project: meat alternatives.

Check out the 3 biggest competitors to Tesla.


Executive Chairman Larry Ellison argued on Tuesday that competing cloud software providers like Amazon Web Service, SAP, and Salesforce can’t compete with Oracle’s strategy.

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Oracle’s (NYSE: ORCL) stock price had a dip in after hours trading on Wednesday, following Executive Chairman Larry Ellison’s comments regarding bigger competitors in the cloud software development industry.

The infrastructure cloud “is a fundamental difference between Oracle and all of our application competitors,” Ellison said, while he continued to elaborate that competing against the likes of AWS (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOGL) ultimately provides Oracle with the inspiration and necessity to differentiate its portfolio and provide broader business applications. …


With no time for respite following a tense bout with Apple in the music streaming industry, Spotify’s stock price could be in for more turbulence, as Amazon Music HD looks to contend.

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Bloodied and bruised, Spotify faces a new heavyweight contender in the form of Amazon. Spotify’s rivalry with Apple made all the headlines this year — back in March, we reported that Spotify had reported Apple to the European Commission for anti-competitive practices on its app store.

By the summertime, it seemed that the war between the two tech giants would continue to rage on, as we reported in our subscriptions earnings wrap-up that Apple had gained market share in the U.S., …

About

Jamie Adams

Jamie is our content marketer at MyWallSt. If he’s not chasing down the quirkiest market stories of the week, he’s usually writing about them.

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