Back to top

Facebook (FB) Deletes Myanmar Military Officials' Accounts

Read MoreHide Full Article

Facebook (FB - Free Report) recently announced that it has removed several accounts related to Myanmar military officials, in line with its efforts to curb spread of hate and misinformation on its platform.

This comes after a UN report claimed that several Myanmar military officials, including senior general Min Aung Hlaing, were responsible for carrying out grave human right abuses against the minority Muslim community in the country.

The U.N. authorities have reportedly accused Facebook as it has been used as the key platform for spreading hate and misinformation that triggered riots and abuses, per Reuters.

The social media giant admitted that it was slow to act in preventing the issue.

In this connection, the company announced that it has removed 18 Facebook accounts, 52 Facebook pages and one Instagram account, followed by at least 12 million people.

Additionally, Facebook also removed 46 pages and 12 accounts involved in spreading independent news and opinions supporting Myanmar’s military opinions.

Facebook Faces Flak for Data Privacy Issues

Facebook is under considerable pressure from regulatory bodies for the way it deals with fake news and the manner in which customer data is collected and shared on its platform.

The Russian interference in 2016 U.S. Presidential elections, the Cambridge Analytica scandal that impacted 87 million subscribers, and rapid proliferation of fake news and terrorism related content have severely tarnished Facebook’s image.

Additionally, the social media giant has received warning from the Indonesian government that if any allegations similar to the Cambridge Analytica data breach surface during the upcoming elections, the application will be stopped in the country.

Moreover, Facebook along with Twitter (TWTR - Free Report) and Alphabet’s (GOOGL - Free Report) Google have also come under pressure after influential political campaigns related to Russian and Iranian propaganda were spread on the platforms.

Facebook, Inc. Revenue (TTM)

 

Facebook, Inc. Revenue (TTM) | Facebook, Inc. Quote

Can Facebook Curb These Practices Completely?

Facebook’s efforts to plug security loopholes as well as limit fake news will eventually boost trustworthiness. Although the company’s focus on building a strong “community” can hurt engagement over the next few quarters, the steps will expand user base over the long run.

Moreover, Facebook is undertaking a number of initiatives by investing heavily both in technology and on personnel to curb such practices and to improve security of the platform

We believe the initiatives by the social media giant to restrict the spread of hateful content and misinformation on the platform will boost user confidence, thereby positively impacting the top line going forward.

Facebook currently carries a Zacks Rank #4 (Sell).

Stock to Consider

A better-ranked stock in the broader computer technology sector is Vishay Intertechnology (VSH - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

Long-term earnings growth for Vishay is projected to be 9.2%.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Facebook, Inc. (FB) - free report >>

Alphabet Inc. (GOOGL) - free report >>

Twitter, Inc. (TWTR) - free report >>

Vishay Intertechnology, Inc. (VSH) - free report >>

More from Zacks Analyst Blog

You May Like