Apple Inc, Google parent Alphabet and Amazon.com all posted results for the end-of-year quarter that left a sour taste in investors’ mouths
) all posted results for the end-of-year quarter that left a sour taste in investors’ mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market’s January rally got ahead of itself.
Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. “When things started to reopen in December , we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around,” Apple Chief Executive Tim Cook told Reuters.
Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company’s four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple and Google app stores get thumbs down from White HouseThe Biden administration is taking aim at Apple and Google for operating mobile app stores that it says stifle competition.
Read more »
Biden administration takes aim at Google and Apple, says their app stores stifle competitionA report released on Wednesday says the current app store model – dominated by Apple and Google – is ‘harmful to consumers and developers’ by inflating prices and reducing innovation
Read more »
Democratic U.S. senator urges Apple, Google to remove TikTok from its app storesTikTok has come under increasing criticism because of concern that China’s government could use it to harvest data on Americans or advance Chinese interests
Read more »
CGI helps companies contain costs without cutting staffAs tech companies lay off staff, Canada’s CGI Inc is bucking the trend and is one of the few tech firms to retain its pandemic stock-market valuation
Read more »
Tony Loffreda: Online News Act key to journalism's battle for fairness with Big TechDigital disruption continues to be a real problem for important journalism
Read more »
Snap tumbles on projected sales drop in warning for Meta, Google - BNN BloombergSnap Inc. shares tumbled about 15 per cent in premarket trading after the company projected its first ever quarterly revenue decline, casting a shadow over other advertising-dependent companies.
Read more »