Apple, Alphabet and Amazon Hurt as Economic Slump Crimps Demand

Bloomberg2023-02-03

‘Headwinds kept the consumer sentiment weak in 2022’Tech CEOs point to some bright spots, such as the use of AIApple Inc., Amazon.com Inc. and Alphabet Inc., technology bellwethers with a combined ...

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Andrewinho
2023-02-03
Andrewinho
Opportunity!! 🤭🤭🤭
TigerHulk
2023-02-03
TigerHulk
Sell Sell Sell
runningjames
2023-02-03
runningjames
Markwright will be down, drag by this few stocks
sk.thidurshan
2023-02-03
sk.thidurshan
Ok$Alphabet(GOOG)$
- MIe:
  Upside q1
Longs
2023-02-03
Longs
👌🏼🙏🏼
UTOtrader
2023-02-03
UTOtrader
T

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Amazon’s revenue was trimmed by soft consumer demand for products sold online and slowing growth in a once-booming business that provides remote computing power to companies. Alphabet’s results missed Wall Street estimates after customers curtailed orders for ads that appear alongside online search results.“The war in Ukraine, inflationary pressures, economic uncertainty and macroeconomic headwinds kept the consumer sentiment weak in 2022 while smartphone users reduced the frequency of their purchases,” Harmeet Singh Walia, a senior analyst at Counterpoint Research, wrote in a report on Apple.Economic weakness also affected business demand for ads and cloud computing, said Mandeep Singh, technology lead at Bloomberg Intelligence. 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That will show how the technology is being incorporated into other businesses — rather than just Alphabet’s “Other Bets” division — the company said.“I’m excited by the AI-driven leaps we’re about to unveil in search and beyond,” Pichai said in a statement.Part of Apple’s weakness last quarter was the result of supply-chain constraints, particularly in China, where Covid-related lockdowns impeded production while also keeping consumers out of stores. Apple CEO Tim Cook said a loosening of Covid rules in China — one Apple’s biggest markets — is helping brighten his outlook.“When you look at the opening that started happening in December, we saw a marked change in traffic in our stores as compared to November — and that followed through to demand as well,” Cook said on a conference call with analysts. Production “is now back where we want it to be,” he also said.Amazon CEO Andy Jassy zeroed in on the company’s efforts to slash costs, reversing the massive ramp-up in hiring and spending prompted by the boom in online commerce that accompanied the pandemic.“I think probably the No. 1 priority that I spend time on with the team is reducing our costs to serve in our operations network,” Jassy told analysts on a call.Alphabet Chief Financial Officer Ruth Porat also told investors that the company will “meaningfully” slow the pace of hiring this year. 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🤭🤭🤭","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955623478","repostId":1131662511,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9955620084,"gmtCreate":1675396071649,"gmtModify":1676538999371,"author":{"id":"4111448269923362","authorId":"4111448269923362","name":"TigerHulk","avatar":"https://community-static.tradeup.com/news/9e1491ac4fc7b7459eacd64c6be410ae","vip":2,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":7,"crmLevelSwitch":1,"idStr":"4111448269923362","authorIdStr":"4111448269923362"},"htmlText":"Sell Sell Sell","listText":"Sell Sell Sell","text":"Sell Sell 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