Earlier this year, Snapchatoverhauled its features for users, hoping to drive engagement even further. The social media platform has dethroned others like Twitter (TWTR) - Get Report and Facebook's (FB) - Get Report Instagram for the top platform among teens.
That's probably part of what's driven up the value of the company, which was recently valued at a whopping $20 billion in a recent series of funding. The company is looking to raise roughly $200 million in the current round.
Snapchat's value quickly shot up to $16 billion last year, but the valuation stayed relatively flat even until earlier this year, before increasing in the current round. The valuation has to bother companies like Twitter, which is valued at "just" $10 billion. Snapchat is still privately held, despite the social media company continuing to grow at rather rapid pace.
Facebook closed at $117.70 Tuesday, up 1.5%
Speaking of Twitter feeling down and out, the stock hit a 52-week low in Tuesday's trading session. The stock has recovered slightly from its sub-$14 prices, bottoming out at $13.73. Dragging the stock lower on the day was a downgrade to sell from MoffettNathansan to go along with a $12 price target.
The downgrade overshadowed the company's recent changes to make it easier and more convenient to use. Twitter will now make it so that photos, videos and other media don't count against the character limit - which still stands at 140-characters.
CEO Jack Dorsey has been steadily making changes to help improve the user experience. Last quarter, this translated to a slight uptick in user growth, a figure that has been flat for several quarters.
Worries over user growth has led to a plunge in stock price, as shares of Twitter have plummeted more than 60% over the past 12 months. While the platform and stock may recover, it looks like it will be a long road to get there.
Shares of Twitter closed at $14.03 Tuesday, down 2.6%.
Apple (AAPL) - Get Report CEO Tim Cook recently embarked on a trip to China to clear up some issues that have tripped up the tech titan over the past few months. Also on the itinerary was a trip to India.
The company is trying to tap into its next growth market. Although Apple's growth in China slowed in the most recent quarter, it's still a fast-growing market for the company. But it makes sense to start looking for the next big thing while it has the chance. So why not India? Another nation with a population north of 1 billion people.
One big problem though is price. Apple products cost so much, that many in the country cannot afford the devices, even if they so badly want them. That's why Apple has tried (so far unsuccessfully) to import used phones into the country. There's also been discussions of whether Apple would manufacture its phones in India.
Cook was hoping to smooth matters out in his recent visit, but that may have been unsuccessful. If Apple won't make the devices there, India at least wants a minimum of 30% of the components to be obtained from within the country. That is, if Apple plans on opening its own retail stores.
India has put a large emphasis on driving its own commerce. That's not to say it's closed-minded about working with other companies outside its borders. But it doesn't want to be held hostage by large, foreign corporations either.
It looks like Apple still has a little ways to go before India catches on as its next big growth market.
Shares of Apple closed at $97.90 Wednesday, up 1.5%.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.