What to know in markets on Tuesday, January 31, 2023.
Yahoo Finance tech editor Dan Howley explains what's behind all the recent tech layoffs and what it means for some of the Nasdaq's biggest companies.
TikTok is a big reason Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google and Meta Platforms (NASDAQ: META), which owns Facebook and Instagram, saw their combined share of the digital ad market decline to less than 50% last year for the first time since 2014. The short-form video app saw its ad sales more than double in 2022, while Meta and Google's ad sales slowed significantly. Meta might end up posting an ad revenue decline for 2022 after flat sales through the first nine months of the year.