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.
Walmart, which last month reported lackluster earnings, is making a big bet on enhancing its warehouse technology. The big box giant will open new facilities that use automation in order to fill more orders and deliver them within a competitive timeframe, like same-day or two-day delivery in order to compete with e-commerce king Amazon. Will these efforts give Walmart an advantage, and maybe even help it beat Amazon in multiple categories? Arun Sundaram, senior equity analyst at CFRA Research, joins Closing Bell to discuss.
Major business leaders are taking in the current U.S. economic backdrop — including inflation and a first-quarter GDP contraction — and voicing pessimistic outlooks about what the economy will do. Meanwhile, the question on everyone's mind is still whether or not we will enter a recession, and when. Mike 'Mish' Shedlock, an investment advisor at Sitka Pacific Capital Management, says on Closing Bell that business leaders aren't anxious enough, and that it's likely the U.S. will enter a recession early in the third quarter of this year.
Los Angeles Rams wide receiver Cooper Kupp is partnering with eye-drop brand Pataday to help those struggling with allergies — such as himself. The Super Bowl LVI MVPjoined Cheddar News to discuss his own struggle with seasonal allergies. “It's right when football's starting back up, I feel like I get so excited to finally be back playing the game, and then, you know, spring comes around and completely knocks me out," he said.
After a week of changes including a ticker change and longtime COO Sheryl Sandberg stepping down, Meta's future may seem uncertain. Cheddar News anchors Kristen Scholer and Ken Buffa broke it all down a the stock dropped around 4 percent on Friday amid a flurry of speculation around the company formerly known as Facebook.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Buy now, pay later — or point-of-sales loans — might be making it difficult to get a handle on your credit. These companies typically do not report payment history during transactions, so without this data going to credit scoring companies, it makes it difficult to know how many loans a customer still needs to pay. Experts are recommend paying off these debts as soon as possible.
A new survey from LendingClub and Pyments.com shows that more than one-third of Americans making $250,000 are living paycheck to paycheck. The alarming trend is being found mostly among millennial earners.
As manufacturing and shipping continue to face staffing challenges, robotic replacements are increasingly on their way to plug the gaps. Cheddar's Alex Vuocolo takes a deeper look at the latest trend.
