One month ago, I wrote that Facebook shares were falling due to Apple's privacy policies. Wall Street experts predicted that Apple's changes would affect all online advertising companies. Snap, Twitter and Facebook shares fell again at the end last week. The shares of Snap, Twitter and Facebook dropped abruptly. Let's get into the details.

Snap report Q3 2021 did not live up to Wall Street's expectations

Snap, an American company that owns Snapchat messenger, reported the Q3 2021 results on October 21st. The claims of Evan Spiegel (director general of the company), were the most popular. He stated that Snap's business was impacted more by the changes Apple made to its App Tracking Transparency (ATT) than they expected.

Apple updates are, as you may recall, aimed at increasing transparency in tracking user data collected by apps. This is at least the official explanation.

Important report details

• Revenue -- $1.07 Billion, +57%; forecast -- $1.1 Billion
• Stock loss -- $0.05, -67%
• Net loss -- $71.9 Million, -64%.

Snap forecasts for Q4 2021

They expect to make between $1.16 and 1.2 billion in revenue for the company's next quarter. This is a growth rate of 27-32%. Refinitiv polled analysts and predicted a revenue of $1.36 Billion for the quarter.

Snap experts predict that daily active users will reach 316-318 millions. In July-September, there were 306 Million active users. This is 23% more than the same time last year.

What was Snap's reaction to the report?

Snap's share price (NYSE: SNAP), began declining in two trading sessions prior to the Q3 report being presented. The shares fell 1.7% to $75.11. The shares of the IT company plunged 26.59% to $55.14.

Snap shares tech analysis by MaksimArtyomov

The company's shares suffered the worst decline since the publication of the report. The gap caused the quotations to fall below the 200-days Moving Average, and continued falling during Friday's trading session.

I expect further falling and a breakaway from the lower border in the ascending channel. The goal is $48.6 for the near future. The quotations could rise to $40 if income growth is slower in the next quarter.

Twitter and Facebook quotes also fall

Snap shares began falling on October 22nd after we learned that its revenue from advertising had dropped in the previous quarter. The shares of giants like Facebook (NASDAQ:FB) and Twitter, (NYSE:TWTR) also fell. Closed quotations for the first company saw a drop of 5.05% to $324.61, and the closing quotations for the second fell by 4.83% to $62.24.

Maksim Artyomov, Tech Analysis of Twitter and Facebook Shares

Facebook

The channel's lower boundary is being tested by the IT giant's shares. The 200-day MA is where the quotations are currently. The quotations will continue falling if they breach it. The support level of $300 is the goal.

I believe the price will then bounce off the support level and continue to develop the uptrend. The price could still bounce off of the lower border and continue growing without going back to the support level.

Twitter

Twitter's shares are dropping due to bad news. They are slowly falling towards the 200-day MA and, if they fail to break it, will continue falling further. The support level at $58.4 will be reached after a breakaway from the lower border. If the news is positive, the price could bounce off the support level and grow again in the near future.

Summarising

Snap quotes dropped almost 27% last week and was behind those of Twitter and Facebook, which lost an average of 5%. Snap's director general claimed that Apple's ATT would have a significant impact on the company's advertising business. This is not a good idea. Investors became concerned about large advertising platforms and the following social networks list their positions.

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