Heard on the Street’s Dan Gallagher states maybe this wasn’t the best time for Huge Tech to bend its monetary muscles.
Amazon.com, Apple and Facebook all reported strong results for the June quarter on Thursday afternoon. Awkwardly, the results came simply a day after the chief executives of all 4 companies were grilled by Congress over the marketplace power they have actually collected.
Investors have actually taken to dismissing such events as political theater. Legislators and regulators have actually rattled sabers at big tech for a couple of years now with little to reveal for it.
However the hearings actually included more compound than previous celebrations, with lots of legislators zeroing in on alleged anticompetitive behavior in areas such as Amazon’s third-party marketplace, Apple’s App Shop, Google’s tendency to drive traffic to its own properties and Facebook’s propensity for acquiring companies that might threaten its place as the world’s pre-eminent social media network.
Thursday’s strong results strengthen the image of business so powerful that even an unprecedented global health crisis can’t stop them. Apple even managed to expand its iPhone sales for the quarter, in spite of the pandemic’s impact on the company’s manufacturing base in China. On the other hand, Amazon published a record jump in earnings from third-party services, revealing a growing dependence on a service getting sharp criticism over reports that the company abuses data from its offering partners
Big tech’s growing strength will draw cheers from financiers, but not everybody who notices Thursday’s results is a fanboy.
%%.
source https://jobsearchtips.net/google-amazon-facebook-and-apple-report-revenues-live-updates/
No comments:
Post a Comment