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If the U.S. government bans TikTok, it could be a major blow to Oracle.
Oracle hosts TikTok’s U.S. user data on its servers, reviews the app’s source code and delivers the app to the app stores. ... After a U.S. appeals court upheld the sell-or-ban law on Dec. 6 ...
TikTok’s existing American users could still use the app on their phones, but they won’t be able to update it via the app stores, meaning the company won’t be able to fix bugs or security ...
Under the threat of TikTok’s shutdown in the U.S., ByteDance inked a tentative deal with Oracle and Walmart, which under the proposed terms would acquire a combined 20% stake in TikTok.
(See ORCL stock analysis on TipRanks).On September 11, Barclays analyst Raimo Lenschow raised Oracle stock’s price target to $59 (3.5% upside potential) from $52 and reiterated a Hold rating.
The new law grants ByteDance up to a year to sell TikTok, and if the parent company does not divest from the app by then, a nationwide ban would go into effect. So, it would take at least a year ...
A deal that would give Oracle and Walmart ownership stakes in TikTok is up in the air — and may not happen at all, as the Biden administration reviews Trump’s actions and policies against ...
The legislation, which has received overwhelming bipartisan support in Congress, per USA TODAY, gives TikTok’s Chinese parent company, ByteDance, up to a year to sell its U.S. operations or face ...