TikTok to ‘Go Dark’ on Sunday for Its 170 Million American Users
Published On Jan 17, 2025, 10:06 PM
TikTok announced it will cease operations for its 170 million U.S. users on January 19 due to a federal ban imposed over national security concerns regarding its Chinese ownership by ByteDance. The company is pressuring the Biden administration to assure tech companies like Apple and Google that they will not face penalties for hosting its services unless TikTok is sold to a non-Chinese owner. This law was recently upheld by the Supreme Court.
Stock Forecasts
AAPL
Negative
The potential cessation of TikTok services could significantly impact user engagement and advertising revenues for tech companies involved. Companies like Apple and Google may face backlash but might not suffer long-term losses unless they fail to adapt to the change.
SNAP
Positive
TikTok's stoppage in the U.S. market may embolden competitors such as Instagram and Snapchat, possibly leading to an increase in user growth and advertising revenue for these platforms
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