Apple's revenue grew considerably during the most recent quarter but iPhone sales were down. The company sold 77.3 million iPhones during the holiday quarter, about one million less than the same time last year. It's the first time Apple has ever seen declining sales on its iPhones during the holiday season. However, the company did post $88.3 billion in revenue, up 13% from last year.
There was good news and bad news in the earnings report for Alphabet, the parent company of Google. The company beat expectations on revenue but fell short on earnings. Ad sales were strong but that profit was offset by increased ad spending.
And Amazon soared past Wall Street expectations thanks to strong holiday sales. The company beat on revenue and earnings. Amazon also set a new record, posting profits above $1 billion for the first time.
We dive into these earnings reports with Gene Munster, Managing Partner at Loup Ventures. Munster believes Amazon's profitability was a one-time thing. He is also predicting that Apple will release a new iPhone soon with a screen that's 25% bigger.
Plus, Cheddar's CEO Jon Steinberg talks to veteran newsman Dan Rather about his new partnership with The Young Turks. Rather now has a half-hour show airing on the network's YouTube channel. "The News with Dan Rather" will offer commentary and analysis on today's news, something he never did on "CBS Evening News." The show airs Mondays at 5:30pm ET.
The global oil benchmark has crossed the $100 per barrel mark for the first time since 2014. Oil prices have surged nearly 10 percent since Russia's invasion of Ukraine. Russia is the number two oil producer in the world, and it comes at a time when global oil supplies have already been constrained over the course of the past year. Rob Thummel, portfolio manager at Tortoise, joined Cheddar Movers to discuss.
Russia's economy is falling on hard times as businesses throughout the world continue to shut out the country after its invasion of Ukraine. Cheddar News was joined by Christine McDaniel, Senior Research Fellow at the Mercatus Center, to learn more about the situation.
Tech companies such as Google, Apple, and Twitter are the latest to announce back-to-office plans. Google has asked its employees to return starting on April 4th. Heidi Brooks, senior lecturer in organizational behavior at Yale University School of Management, joins Cheddar News to discuss.
Businesses face more challenges for building a positive work environment as offices reopen. Workplace tech platform Envoy's At Work Report showed that hybrid work is currently in vogue, featuring focused work in both the office and at home. Annette Reavis, chief people officer for Envoy, joined Cheddar to discuss how employers can smooth the rough edges for their returning employees. "It is about hybrid though, it's really important for the future that we change our mindset from five days a week," she said. "Those are days of the past to working hybrids. So when you're in the office, you're focused, you're working cross-functionally."
Following the invasion of Ukraine, a multitude of Western companies have paused doing business with Russia. PepsiCo, Coca-Cola, McDonald's, and Starbucks are the most recent companies to temporarily cease operations in Russia. Dean of Miami Herbert Business School at the University of Miami, John Quelch, joined Cheddar News to discuss what message this sends to Russia and the Russian consumer. “I would not underestimate the collective strength of all of these multinational companies, essentially coming together to make their collective statement in support of the political statements that have come out of Washington," he said.
Cristyl Kimbrough, real estate attorney and star of 'Ladies Who List: Atlanta,' joins Cheddar News to discuss her new show on OWN and breaking into Atlanta's luxury real estate space.
Carl Tobias, professor of law at the University of Richmond, joins Cheddar News to talk about how Johnson & Johnson funded experiments on mostly Black men comparing the effects of talc and asbestos on their skin.
Amazon unveiled its new mobile app called Amp as a direct competitor to Clubhouse, allowing people to host live radio shows. Although it is still in beta, users can join the waitlist from the iOS store.
