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.
Stocks closed mixed today, with the Nasdaq sliding for the second day in a row as investors are skittish about Fed Chair Jerome Powell's re-nomination by President Joe Biden. Many are worried that Powell's Fed could institute rate hikes next year if his nomination is approved in the Senate. Dann Ryan, Chief Investment Officer at Sincerus Advisory, joins Cheddar News' Closing Bell to discuss today's close, why tech investors are worried, rising costs for consumers, and more.
Fold CEO & Co-founder Will Reeves joins Cheddar News' Closing Bell, where he discusses what his company's augmented reality metaverse involves and elaborates on Fold's goals surrounding the new initiative.
President Joe Biden's "Build Back Better" bill could mean cheaper electric bicycles and scooters as the nation attempts to shift away from gas-powered cars. Noa Banayan, the director of federal affairs at PeopleForBikes, joined Cheddar's "Closing Bell" to provide some background on the E-Bike Act included in Biden's reconciliation bill that would provide tax credits for qualified purchases. "We want to make sure, from the bike industry's perspective, that this is a technology and a product that is available to the majority of Americans who want to lower their carbon footprint and get around town faster and do everything that they would normally do in a short car trip but by bike, because it's healthier, it's fast, it's efficient, you're not in traffic," she said.
It's being called the next big trend in crypto. A decentralized autonomous organization, or DAO, is an internet community of different types of groups and businesses. The purpose is to allow people to commit funds to a specific cause in a safe way. Now, one social platform is creating a do-it-yourself kit for those who want to step into the space. Upstream Collective just launched the beta mode of its platform with the goal of putting all facets of running a DAO in one place. Alex Taub, co-founder and CEO of Upstream, joins Cheddar News to discuss.
Walmart and Zipline have teamed up to launch a drone delivery service in Pea Ridge, Arkansas. The service delivers products to customers within a 50-mile radius of the store. Liam O'Connor, COO of Zipline, joins Cheddar News to talk more about the partnership.
