Meta & Google benefiting for turmoil at X, formerly Twitter: Analyst

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Elon Musk posted on X that soon users will be able to use the app to make video and audio calls. Meta Platforms CEO Mark Zuckerberg (META) probably isn't worried about the announcement, says Jefferies Senior Analyst Brent Thill. 'I think the market is big enough. I think users go to the platforms for different reasons,' Thill explains, adding that Meta's platform is very 'sticky.' Thill says advertisers are moving their ad dollars from X to other platforms, 'in all of our checks Google and Meta are taking market share away from them.' Thill goes on to say that users are staying on Google (GOOGL) and Meta's platforms and, as a result, they are gaining advertiser market share, 'Google and Meta are in really phenomenal positions.' Advertisers 'are not going to the other platforms,' Thill says.

) probably isn't worried about the announcement, says Jefferies Senior Analyst Brent Thill."I think the market is big enough. I think users go to the platforms for different reasons," Thill explains, adding that Meta's platform is very"sticky." Thill says advertisers are moving their ad dollars from X to other platforms,"in all of our checks Google and Meta are taking market share away from them.

You know, they just get stuck in this roundabout and keep going around. They need to figure out how do they break out of the pattern, if you will, and go somewhere new and do something exciting. So we'll see. You know, we're not ruling them out. They have a lot of work to do. But I'm not worried if I'm Zuck.Is Meta a net beneficiary then of some of the strategic question marks that still circle around X--100%. 100%.

 

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