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Citi downgrades Facebook and Google, says ad market expectations are too bullish

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New for subscribers: Citi downgrades Facebook and Google, says ad market expectations are too bullish. Check out CNBCPro today.

The logo of Alphabet Inc's Google outside the company's office in Beijing, China, August 8, 2018.The growth trajectory for the online advertising market doesn't appear to be strong enough to drive more gains for two Big Tech stocks that rely heavily on that business, according to Citi.

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Pro This downgrade doesn’t make any sense , if the economy will get strong after the lockdown , stimulus package and infrastructure package should all help the online advertising .all this upgrade and downgrade from investment bank just for benefit when they write the options .

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