AMZN - Amazon.com, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
1,891.56
-0.44 (-0.02%)
As of 12:11PM EST. Market open.
Stock chart is not supported by your current browser
Previous Close1,892.00
Open1,896.09
Bid1,890.67 x 1000
Ask1,891.35 x 900
Day's Range1,883.34 - 1,902.50
52 Week Range1,566.76 - 2,035.80
Volume1,727,454
Avg. Volume3,139,882
Market Cap937.831B
Beta (5Y Monthly)1.51
PE Ratio (TTM)83.82
EPS (TTM)22.57
Earnings DateJan. 29, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2,177.93
  • Netflix is still saying 'no' to ads
    TechCrunch

    Netflix is still saying 'no' to ads

    Despite ongoing speculation and investor pressure, Netflix is still declining to adopt an advertising-based business model as a means to boost its revenue, Netflix CEO Reed Hastings confirmed on Tuesday. The company on its Q4 earnings call again shot down the idea of an ad-supported option, with Hastings explaining there's no "easy money" in an online advertising business that has to compete with the likes of Google, Amazon, and Facebook.

  • UN Panel Sees Possible Role by Saudi Prince in Bezos Hack
    Bloomberg

    UN Panel Sees Possible Role by Saudi Prince in Bezos Hack

    (Bloomberg) -- United Nations experts said the Saudi Crown Prince Mohammed bin Salman was possibly involved in hacking the cellphone of Amazon.com Inc. Chief Executive Officer Jeff Bezos and have called for an investigation.Bezos’ phone was hacked following an exchange he had with the Saudi Prince on WhatsApp in 2018 that was infiltrated via an MP4 video file sent from the WhatsApp account used by the Prince, according to a statement by UN independent experts appointed by the Human Rights Council Wednesday.A forensic analysis found that “massive and (for Bezos’ phone) unprecedented exfiltration of data from the phone began.”The statement said the intrusion “likely was undertaken through the use of a prominent spyware product identified in other Saudi surveillance cases, such as the NSO Group’s Pegasus-3 malware, through the use of Israeli spyware.” The report notes that the product is widely reported to have been purchased and deployed by Saudi officials.A representative for the NSO Group denied any connection to the Bezos hack, describing such a suggestion as “defamatory. Our technology was not used in this instance.“ The representative said “our technology cannot be used on U.S. phone numbers, our products are only used to investigate terror and serious crime.”The report from independent experts Agnes Callamard, UN Special Rapporteur on summary executions and extrajudicial killings, and David Kaye, UN Special Rapporteur on freedom of expression, follows an investigation into the killing of Saudi and Washington Post journalist, Jamal Khashoggi.“The information we have received suggests the possible involvement of the Crown Prince in surveillance of Mr. Bezos, in an effort to influence, if not silence, The Washington Post’s reporting on Saudi Arabia,” Callamard and Kaye wrote. Bezos owns the Post.The allegations also point to a pattern of targeted surveillance of perceived opponents and those of broader strategic importance to the Saudi authorities, the report said, which are relevant “to ongoing evaluation of claims about the Crown Prince’s involvement in the 2018 murder” of Khashoggi. Saudi operatives have attacked Bezos in a flurry of social media posts, and the U.S. has charged two Twitter Inc. Employees and a Saudi national with being illegal agents for Saudi Arabia.The report said the circumstances and timing of the Bezos hack “strengthen support for further investigation by U.S. and other relevant authorities of the allegations that the Crown Prince ordered, incited, or, at a minimum, was aware of planning for but failed to stop the mission that fatally targeted Mr. Khashoggi in Istanbul.”The revelation of new details about a security breach that affected the world’s richest man comes about a year after the surprise announcement that Bezos and his wife, MacKenzie, would divorce after 25 years of marriage. The National Enquirer subsequently disclosed an extramarital affair between Bezos and Lauren Sanchez, a former television anchor, in a series of reports that relied, in part, on intimate text messages sent by Bezos.Bezos later wrote an extraordinary blog post accusing the tabloid of threatening to publish more embarrassing text messages and photos unless he publicly affirmed that there was no political motivation or outside force behind the tabloid’s coverage.Gavin de Becker, a security consultant for Bezos, said at the time that he believed the Saudi Arabian government had accessed Bezos’s phone before the Enquirer exposed the affair. He didn’t provide any direct evidence to back up his claims, which he said came from “our investigators and several experts.” De Becker cited the Enquirer’s business relationship with the Saudis, as well as tough coverage of the murder of a critic of the Saudi regime by the Bezos-owned Washington Post, as reasons why bin Salman might seek to harm the Amazon founder.On Wednesday, Senator Ron Wyden, a Democrat from Oregon, wrote to Bezos seeking more information about the hack and concerns of Saudi involvement.“Unfortunately, the breach of your device appears to be part of a growing trend,” Wyden wrote. “To help Congress better understand what happened -- and to help protect Americans against similar attacks __ I encourage you to provide my office with information regarding your case. I am particularly interested in the technical details, including indicators of compromise from the hack, which could help the United States Government, businesses and independent researchers discover who else may have been targeted and take steps to protect themselves.”(Updates to add Bezos connection to Post. A previous version of the story corrected the spelling of Human Rights Council in second paragraph)\--With assistance from David Wainer, William Turton and Ryan Gallagher.To contact the reporters on this story: Molly Schuetz in New York at mschuetz9@bloomberg.net;Giles Turner in London at gturner35@bloomberg.netTo contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Robin AjelloFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Netflix to Gain From Expanding International Content in 2020
    Zacks

    Netflix to Gain From Expanding International Content in 2020

    Netflix (NFLX) to gain from international content deals and the expansion of the content portfolio with the slated release of 21 films from Studio Ghibli as well as the latest Pokemon animation.

  • Disney Launching Disney+ a Week Early in Western Europe
    Zacks

    Disney Launching Disney+ a Week Early in Western Europe

    Disney (DIS) moves up launch date of Disney+ in Western Europe to gain market and strengthen competitive position.

  • ETFs in Focus on Netflix's Solid Q4 But Weak Outlook
    Zacks

    ETFs in Focus on Netflix's Solid Q4 But Weak Outlook

    Netflix offered a weak outlook, raising concerns about its dominance in an increasingly crowded field.

  • Bloomberg

    Bezos Hack Rekindles Fears About Saudi Crown Prince

    (Bloomberg Opinion) -- The most astonishing revelation in reports about the hacking of Jeff Bezos’s cellphone is that Crown Prince Mohammed bin Salman may have played a direct, personal role. Bloomberg News reports that two people familiar with the breach say Saudi Arabia’s de-facto ruler, known as MBS, started the process by sending the Amazon.com Inc. chief a WhatsApp message containing hidden malware, which gave the Saudis access to the billionaire’s phone.More damning still, independent United Nations experts say they have information suggesting MBS's involvement in the hack. “The information we have received suggests the possible involvement of the Crown Prince in surveillance of Mr. Bezos, in an effort to influence, if not silence, The Washington Post’s reporting on Saudi Arabia,” wrote independent experts Agnes Callamard, UN Special Rapporteur on summary executions and extrajudicial killings, and David Kaye, UN Special Rapporteur on freedom of expression, in a statement Wednesday.How the prince responds will reveal whether he has learned any lessons from the killing of Jamal Khashoggi and its fallout.The message to Bezos preceded the grisly murder of the journalist, in the Saudi consulate in Istanbul, by five months. The UN investigation into the killing said MBS “has a responsibility in relationship to the killing” and the CIA believes he gave the order. The Saudi government denies this, and went through a form of judicial proceedings to affix blame on people it claims were involved.This saga has done little to dispel the cloud over MBS’s reputation. As I wrote on the anniversary of the murder, the ghost of Khashoggi haunts the prince’s every step. It even attended, Banquo-like, the banquet for bankers that was the Aramco IPO.The story about the hacking of the Washington Post’s owner has the potential to attract as much attention as the killing of the newspaper’s columnist.The allegation that the prince was personally involved is especially damaging, and will lower even further his international standing. In the U.S., it will harden the resolve of many in Congress to hold MBS to account for the murder, despite President Trump’s best efforts to shield him.It won’t end there. That the target was one of the world’s richest men will invite closer scrutiny of other incidents involving less prominent figures — such as the reported hacking of phones belonging to Saudi dissidents, threats against other critics, and the charge that Twitter employees spied for the kingdom.   The first response from the Saudis was true to form. The Saudi embassy in Washington has characterized the reports of the Bezos hack as “absurd,” reprising the posture it adopted in dismissing first reports that Khashoggi was murdered on orders from Riyadh.The wiser course would be to allow a transparent investigation into the hack with a broader mandate than the UN probe — to find out who ordered it as well as who executed it. After the opaque process surrounding the Khashoggi killing, any investigation by Saudi authorities will inevitably give the impression of a cover-up. The best way to avert that reasonable suspicion would be to allow international supervision of the process.If such a probe concludes that the first breach of Bezos’s phone came from MBS’s WhatsApp message, then the prince must make a clear breast of it: a real mea culpa, and not the caveat-laden acknowledgment he belatedly allowed in the Khashoggi affair. Better still, he should forswear the use of such tactics against critics.MBS’s admirers and defenders often point out that the prince has a long reign ahead of him: He could be king for 50 years. That era will go easier without more ghosts and scandals dogging him.To contact the author of this story: Bobby Ghosh at aghosh73@bloomberg.netTo contact the editor responsible for this story: James Gibney at jgibney5@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Bobby Ghosh is a columnist and member of the Bloomberg Opinion editorial board. He writes on foreign affairs, with a special focus on the Middle East and the wider Islamic world.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Business Wire

    IMDb to Produce On-the-Ground Original Celebrity Video Coverage of the 2020 Sundance Film Festival and Host Premium Experiences for Entertainment Professionals

    IMDb to Produce On-the-Ground Original Celebrity Video Coverage of the 2020 Sundance Film Festival

  • Google's Airtel Deal to Bolster Its Cloud Presence in India
    Zacks

    Google's Airtel Deal to Bolster Its Cloud Presence in India

    Alphabet's (GOOGL) Google inks deal with Airtel per which the latter gets authority to offer G Suite to small and medium businesses.

  • 3 Retailers That Made the Most of the 2019 Holiday Season
    Zacks

    3 Retailers That Made the Most of the 2019 Holiday Season

    Holiday season and retail are synonymous. A sturdy labor market, rising income and improving consumer confidence worked in favor of retailers.

  • The Zacks Analyst Blog Highlights: Facebook, Apple, Alibaba, Amazon and Alphabet
    Zacks

    The Zacks Analyst Blog Highlights: Facebook, Apple, Alibaba, Amazon and Alphabet

    The Zacks Analyst Blog Highlights: Facebook, Apple, Alibaba, Amazon and Alphabet

  • Market Exclusive

    Market Morning: Libra Letdown, Bezos Hacked, Trump Complains, Dirty Water

    Libra Stablecoin Gets Door Slammed in Face in Australia, Switzerland Facebook’s (NASDAQ:FB) stablecoin cryptocurrency Libra  is bashing its head against a wall of regulators and the wall won't budge. Monetary authorities in Australia and Switzerland are the latest to give Libra a hard time, which is understandable since if and when it goes into circulation, […]The post Market Morning: Libra Letdown, Bezos Hacked, Trump Complains, Dirty Water appeared first on Market Exclusive.

  • Sainsbury Badly Needs Vision to Combat Amazon and Aldi
    Bloomberg

    Sainsbury Badly Needs Vision to Combat Amazon and Aldi

    (Bloomberg Opinion) -- Almost a year since competition authorities dealt a mortal blow to J Sainsbury Plc’s $9.1 billion plan to buy Walmart Inc.’s Asda, Mike Coupe is stepping down as chief executive officer of Britain’s second-largest supermarket chain. He’s been at the helm for almost six years and will be 60 in September, so it’s a natural time to hang up his grocer’s apron.But Coupe’s departure looked inevitable once the Asda combination collapsed. Whether or not Sainsbury mishandled the competition risks, for any CEO, grinding out growth in a sluggish market is far less exciting than pulling off an audacious deal.The choice of Simon Roberts, currently retail and operations director, to succeed him is a surprising one given that his most recent experience before Sainsbury wasn’t in food retail, and he’s a relatively new arrival at the group. Sainsbury’s former finance director, John Rogers, was widely seen as Coupe’s heir apparent, until he left for advertising company WPP Plc in October. This may explain his departure. Roberts, 48, is a hands-on shopkeeper. He spent 15 years at Marks & Spencer Group Plc and 13 years at Walgreens Boots Alliance Inc. before joining Sainsbury two and half years ago. But the changes that Sainsbury has made to its stores since then haven’t always gone smoothly. A management overhaul in 2018 led to empty shelves and unkempt shops. In a fast-changing retail market, executives need to augment operational expertise with strategic vision. It’s not yet clear that Roberts has that.It’s interesting that Britain’s two biggest supermarkets, Tesco Plc and Sainsbury, will be led by executives who spent many years at pharmacy retailer Boots. Perhaps it’s replacing Asda as the training ground for top executives. It may be that working for Walgreens CEO Stefano Pessina, who’s known for not suffering fools gladly, is the perfect preparation for taking on difficult challenges — even the brutal U.K. supermarket business.Roberts will need all of the skills he honed under the Italian dealmaker to keep Sainsbury on track. First of all, he must continue to battle the company’s other major rivals which make up the U.K.’s Big Four grocers — Tesco, Asda and Wm Morrison Supermarkets Plc. And he must defend Sainsbury from the U.K. arms of the German discounters, Aldi and Lidl, which are increasingly forging into Sainsbury’s heartland in the south eastern U.K. Coupe did a good job cutting Sainsbury’s prices on everyday items. Roberts must continue this. For a while in 2018 and early 2019, after the damaging store-management overhaul, sales growth slipped behind that of rivals. Sainsbury was beginning to  look like the sick grocer from which everyone else was seeking to steal market share. Its sales have recovered since, but Roberts must maintain that momentum.Secondly, Sainsbury must get Argos, the catalog retailer that Coupe acquired four years ago, back on track. The business, which sells everything from toys to tents, had a poor Christmas. In order to defend itself from the mighty Amazon.com Inc., it must better exploit its combination of online presence and bricks-and-mortar stores, as well as ensure its prices are right. On Tuesday, Sainsbury announced it would further integrate Argos into Sainsbury, axing hundreds of management jobs and cutting costs as it merges divisions including commercial retail and finance. This program must be managed without disruption.If all of this doesn’t go to plan, there is always the risk that Sainsbury, perennially tipped as a takeover target, could finally attract the attentions of a bidder. No one can fault Coupe for his bold decisions. In an environment where just keeping your head above water is hard enough, he was prepared to make daring moves. Unfortunately, they didn’t always pay off.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Saudi Crown Prince Hacked Jeff Bezos’s Phone, Analysis Suggests
    Bloomberg

    Saudi Crown Prince Hacked Jeff Bezos’s Phone, Analysis Suggests

    (Bloomberg) -- Jeff Bezos’s mobile phone was hacked following an exchange between the Amazon.com Inc. chief executive officer and Saudi Prince Mohammed bin Salman on WhatsApp, according to two people familiar with an analysis of the breach.While a message from the prince to Bezos in mid-2018 that preceded the hack appeared benign, investigators found digital evidence suggesting it contained code that ultimately led to the breach of the billionaire’s phone, said one of the people, who asked not to be identified because the probe isn’t public. A forensic analysis showed with moderately high confidence that a WhatsApp account used by bin Salman was involved, another person said.The Guardian newspaper reported earlier Tuesday that an analysis had found that the theft of data from Bezos’s phone in 2018 started with an infected video file sent from bin Salman’s personal account. The Financial Times, which confirmed elements of the Guardian’s account of the hack, said the analysis was conducted by global business advisory firm FTI Consulting. A representative of the firm declined to comment, saying: “We do not comment on, confirm or deny client engagements or potential engagements.”The revelation of new details about a security breach that affected the world’s richest man comes about a year after the surprise announcement that Bezos and his wife, MacKenzie, would divorce after 25 years of marriage. The National Enquirer subsequently disclosed an extramarital affair between Bezos and Lauren Sanchez, a former television anchor, in a series of reports that relied, in part, on intimate text messages sent by Bezos.Bezos subsequently published an extraordinary blog post accusing the tabloid of threatening to publish more embarrassing text messages and photos unless he publicly affirmed that there was no political motivation or outside force behind the tabloid’s coverage.Gavin de Becker, a security consultant for Bezos, later said he believed the Saudi Arabian government had accessed Bezos’s phone before the Enquirer exposed the affair. He didn’t provide any direct evidence to back up his claims, which he said came from “our investigators and several experts.” De Becker cited the Enquirer’s business relationship with the Saudis, as well as tough coverage of the murder of a critic of the Saudi regime by the Bezos-owned Washington Post, as reasons why bin Salman might seek to harm the Amazon founder. The newspaper reported last year that the Central Intelligence Agency linked the crown prince to the 2018 murder of Post columnist Jamal Khashoggi.De Becker declined to comment on the Guardian report Tuesday beyond the lengthy statement last year, which was posted on the news site The Daily Beast.The Saudi embassy, in a tweet, attacked the reports as “absurd” and called for an investigation “so that we can have all the facts out.”In an interview with Bloomberg TV, Saudi Finance Minister Mohammed Al-Jadaan referenced the statement made by the Saudi Embassy but declined to comment further.A spokeswoman for WhatsApp declined to comment.A United Nations investigation, led by UN Special Rapporteurs Agnes Callamard and David Kaye, is set to be released Wednesday and is expected to confirm that Bezos’s mobile phone was hacked using a WhatsApp message from bin Salman, the Washington Post reported late Tuesday.It’s uncertain whether the alleged hack of Bezos’s phone accessed any sensitive Amazon corporate information. The company hasn’t commented on the matter in the nine months since de Becker’s accusation. Company representatives didn’t return messages seeking comment on Tuesday.“It’s unclear whether his phone had more, privileged access to information from his companies,” said Bastien Bobe, an analyst at cybersecurity firm Lookout. “That would not be in line with security practices and risk mitigation at companies though. But technically it would be feasible for that technology to access the data.”(Updates with comments from Saudi Embassy in the eighth paragraph, WhatsApp comment, additional context)\--With assistance from Spencer Soper, William Turton, Helene Fouquet and Francine Lacqua.To contact the reporters on this story: Greg Farrell in New York at gregfarrell@bloomberg.net;Alyza Sebenius in Washington at asebenius@bloomberg.net;Matt Day in Seattle at mday63@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Andrew Pollack, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • IBM Beats Estimates, Ekes Out Revenue Growth on Cloud
    Bloomberg

    IBM Beats Estimates, Ekes Out Revenue Growth on Cloud

    (Bloomberg) -- International Business Machines Corp. reported revenue in the fourth quarter that beat analysts’ estimates, breaking a streak of five consecutive declines as its push into the hybrid cloud market slowly starts to bear fruit. The shares jumped in extended trading.Sales were $21.8 billion in the quarter, up almost 0.1% from the same period a year earlier, the Armonk, New York-based company said in a statement Tuesday. Wall Street had forecast $21.6 billion.The increase stemmed from IBM’s acquisition of Red Hat, which it completed in the third quarter last year, helping boost the cloud and cognitive software division 8.7% from a year earlier. Total cloud revenue was $6.8 billion, the highest ever.Chief Executive Officer Ginni Rometty is hanging the company’s future on the market for hybrid cloud, which allows companies to store data in cloud servers on private and multiple public clouds run by its rivals Amazon Web Services and Microsoft Corp.’s Azure. IBM spent $34 billion in 2018 to acquire Red Hat to help kick this strategy into gear. The company plans to use Red Hat to offer enhanced security services and applications in the hybrid cloud.Red Hat contributed $1 billion in revenue in the quarter ended Dec. 31, but IBM was only allowed to recognize $573 million of that due to U.S. accounting standards. IBM reported earnings excluding some costs of $4.71 a share, beating the average analyst estimate of $4.69. The company said it expects adjusted earnings per share of at least $13.35 for 2020, ahead of Wall Street’s projections for $13.29.Global Technology Services, which represents about 30% of IBM’s overall revenue, continued to decline. The technology consulting unit had revenue of $6.9 billion, which is down 4.8% from the same period last year. Global Business Services also declined, to $4.2 billion -- a 0.6% drop from a year earlier.Once the world leader in technology, IBM has lagged behind rivals for years after largely missing the cloud revolution. “The company has been struggling in a raging bull market for tech stocks,” said Ivan Feinseth, a director of research and analyst at Tigress Financial. “All types of tech companies have been growing expect for IBM.”IBM has long struggled with revenue growth, a factor that has weighed on shares. The stock rose about 4% in extended trading following the report.To contact the reporter on this story: Olivia Carville in New York at ocarville1@bloomberg.netTo contact the editors responsible for this story: Molly Schuetz at mschuetz9@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tech Daily: Facebook, Apple, Digital Taxes & More
    Zacks

    Tech Daily: Facebook, Apple, Digital Taxes & More

    Facebook's role in elections and its UK expansion, Apple's Cook in Ireland, Alibaba's certification and the EU ban on facial recognition technology are the top stories.

  • Trump in Davos, Global Economic Outlook, Netflix Earnings & A Strong Buy Tech Stock - Free Lunch
    Zacks

    Trump in Davos, Global Economic Outlook, Netflix Earnings & A Strong Buy Tech Stock - Free Lunch

    The latest global economic news, which includes a deadly virus that began in central China. Trump's speech in Davos. Uber news. What to expect from Netflix earnings. And why GoDaddy (GDDY) is a Zacks Rank 1 (Strong Buy) stock right now...

  • Microsoft CEO Says U.S.-China Spat May Hurt Global Growth
    Bloomberg

    Microsoft CEO Says U.S.-China Spat May Hurt Global Growth

    (Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Microsoft Corp’s chief executive officer said he worries that mistrust between the U.S. and China will increase technology costs and hurt economic growth at a critical time.Using the $470 billion semiconductor industry as an example of a sector that is already globally interconnected, Satya Nadella said the two countries will have to find ways to work together, rather than creating different supply chains for each country.“All you are doing is increasing transaction costs for everybody if you completely separate,” Nadella said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at Bloomberg’s The Year Ahead conference in Davos. That’s a concern as the executive said the world is on the cusp of a revolution around technology and artificial intelligence.“If we take steps back in trust or increase transaction costs around technology, all we are doing is sacrificing global economic growth,” he said.The Trump administration is considering steps to further limit the ability of U.S. companies to supply Huawei Technologies Co., China’s flagship tech company, in addition to pressuring countries around the world to avoid using its equipment for 5G mobile networks.The agreement signed last week between the U.S. and China was “not sufficient,” said Nadella, but represented “progress” on the issue of intellectual property protections for U.S. technology companies working with China.To enable different countries to use technology from outside their borders, Nadella suggested a system that relies on verification. For example, Microsoft has set up technology centers where various governments can inspect the Windows source code to satisfy themselves as to the security of the product.“There has to be a way for any country to be able to trust, through verification, the technology that they are using as part of a their infrastructure,” he said. “Mechanisms like that have to be in place, and then build trade on top of it instead of thinking of trade and trust as the same thing.”Two InternetsNadella said he worries about the development of two separate internets, noting that to some degree they already exist “and they will get amplified in the future” with massive technology companies already in place in China.The viewpoint clashes with Microsoft co-founder Bill Gates, who has been skeptical about the idea that ongoing U.S.-China trade tensions could ever lead to a bifurcated system of two internets.China and the U.S. are the two leading AI superpowers, however the cooling political relations between them have slowed the international collaboration.Even amid the tensions, countries should find ways to establish global norms around cybersecurity -- such as agreements not to hack each other’s citizens -- privacy and responsible AI, Nadella said. “Despite whatever trade dynamic causes people to separate, you would hope people would recognize we all benefit from more global norms, not less.“ Earlier this month, in a blog post about his goals for the year, Nadella said these areas are essential to earn and sustain people’s trust.Nadella also warned that countries that fail to attract immigrants will lose out as the global tech industry continues to grow. The CEO has previously voiced concern about India’s Citizenship Amendment Act, which bans undocumented Muslim migrants from neighboring countries from seeking citizenship in India while allowing immigrants from other religions to do so, calling it “sad.”“Every country is rethinking what is in their national interest,” he said. Governments need to “maintain that modicum of enlightenment and not think about it very narrowly,” Nadella said, adding that “people will only come when people know you’re an immigrant-friendly country.“However, Nadella said he remained hopeful. “I’m an India optimist,” he said. “The fact that there is a 70-year history of nation building, I think it’s a very strong foundation. I grew up in that country. I’m proud of that heritage. I’m influenced by that experience.”Carbon IssuesMicrosoft has recently unveiled plans to invest $1 billion to back companies and organizations working on technologies to remove or reduce carbon from the atmosphere, saying efforts to merely emit less carbon aren’t enough to prevent catastrophic climate change.“We will now have to make sure all our data center operations are first consuming renewable energy,” Nadella said.Microsoft and Amazon.com Inc., along with other technology companies, have been criticized for supplying software and cloud services to large oil and gas companies like Chevron Corp. and BP Plc. BlackRock Inc.’s Larry Fink has been trailed to work and public engagements by protesters decrying the investment firm for inaction on global warming and other issues.Activists have been pushing for companies to stop working with the largest producers of greenhouse gases. BlackRock has said it will cut exposure to thermal coal as the world’s largest asset manager moves to address climate change.Nadella declined to comment on whether Microsoft would stop working with the major carbon producers. “The energy transition is going to include all of us,” he said.(Updates with comment about global policies on security, privacy in 12th paragraph)To contact the reporters on this story: Dina Bass in Seattle at dbass2@bloomberg.net;Amy Thomson in London at athomson6@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Molly SchuetzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Are the FAANG Stocks too Hot to Handle This Earnings Season?
    Zacks

    Are the FAANG Stocks too Hot to Handle This Earnings Season?

    The FAANG stocks are back in the spotlight this earnings season but not all of them have stellar charts. Who has the best earnings chart of the group?

  • 4 Stocks to Gain as Artificial Intelligence Simplifies Life
    Zacks

    4 Stocks to Gain as Artificial Intelligence Simplifies Life

    The global AI market is projected to witness a compound annual growth rate of 57% between 2017 and 2025.

  • Ad-Supported Streaming Services to Gain Momentum in 2020
    Zacks

    Ad-Supported Streaming Services to Gain Momentum in 2020

    Ad-supported streaming services like Comcast's Peacock and Disney's Hulu among others are well poised to gain momentum in 2020.

  • Amazon to Use Mom-and-Pop Shops as Delivery Points in India
    Zacks

    Amazon to Use Mom-and-Pop Shops as Delivery Points in India

    Amazon (AMZN) teams up with mom-and-pop stores (kirana shops) in India in order to strengthen its delivery system in the country.

  • Trump-Macron Truce Averts Brewing Trade War: A Brief Solace?
    Zacks

    Trump-Macron Truce Averts Brewing Trade War: A Brief Solace?

    The trade truce staves a bigger trade war that could have significant geopolitical and economic ramifications.

  • Will FAANGs Have Enough Bite This Earnings Season?
    Zacks

    Will FAANGs Have Enough Bite This Earnings Season?

    FAANG's huge market value determines broader stock market movements, and any let-downs in their quarterly earnings report will surely have far-reaching implications.