A Downtick Is Coming for Online Advertising

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Obstacles are mounting against online-advertising giants, but the pain won’t be spread evenly.

Ahead of first-quarter reports coming from the industry’s major players over the next few weeks, Wall Street has taken on a notably cautious tone for the sector. The combined weight of rising inflation, continued supply-chain challenges, the war in Ukraine and changes last year to Apple ’s mobile operating system are all expected to take some toll on the sector.

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