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Google Fitbit purchase complete, 4Q20 schedule, more ?4

09:37 14-Jan-21


Google says on a blog post that it has completed the acquisition of Fitbit, and it's no coincidence that the initial determination from the ITC case against Fitbit was also scheduled for today.  This comes a bit earlier than expected, though I got the result right.

Google has also scheduled its fourth quarter report for the evening of February 2nd.  The average of analyst estimates comes to $15.82 per share from $53.1b of revenue, declining to $48.5b this quarter.  I've already gone into detail on how Google's future is moving away from the changing advertising market, and thus, as usual, I do not intend to cover the call separately. 

In that context, I do consider the company's collaboration with Nokia on 5G cloud services interesting.  This is another step in the journey towards telecom services that I've predicted for years, and it represents some competition for Amdocs, which has fully achieved the $70 price target that I set when I initiated coverage in the $50s.  For the record, my stance on NOK is unchanged, as its extended deal with T-mobile was expected.  I will still report on earnings on February 4th and the Capital Markets day on the March 18th.