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It feels like 2022 has been one long, rambling email about how we work in the ‘new normal’. 🙄 Should we go back to the office? Are we getting paid enough to afford food this month? What the hell is quiet quitting? It’s enough to make us want to take a job at LinkedIn. Eucalyptus towels! Blackberry Mojitos! Pudding! Tu meke. 🍹
One company wishing we would all just go back to working from home is video conferencing company Zoom (ZM). 👩💻 Things have been gloomy for Zoom with revenue growth cutting out, slowing to 8% in the second quarter of 2022. Zoom’s share price has tumbled down 55% this year, but at least one person is still a believer: ARK Invest’s Cathie Wood. Last month ARK added more Zoom shares to their ARK Innovation ETF (ARKK) and reckons that shares in the company could be set to zoom to as much as US$1,500 per share by 2026. Perhaps optimistic given that figure is more than 14 times the current average price target by analysts, according to MarketWatch.
Of course ARK Invest has never been afraid to make bold calls. The company stood alone in their early view that Tesla (TSLA) shares were undervalued and could be worth thousands of dollars. 🚘 But Zoom will have some serious mahi to do to chase down mighty Microsoft Teams (MSFT).
Teams has more than 270 million monthly active users, including over 90% of Fortune 500 companies that includes Walmart (WMT), which is using Teams for their more than 2 million frontline workers. Meta (META) may also have catching up to do. That’s because when they’re not trying to get you fired over Teams, Microsoft is working on their own metaverse product with Mesh for Teams, so you can say tēnā koutou to your colleagues in (virtual) person, wherever you’re working from. 👋
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
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