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.
Simple Goodness Sisters produces homemade cocktail syrup from their farms in Buckey, Washington. Cheddar News was joined by the sisters and Co-Founders themselves, Belina Kelly and Venise Cunningham, to talk more about the business and make a cocktail themselves!
The baby formula crisis hit a new level of concern in February. A facility that produces 40% of the baby formula in the U.S. was shut down for contamination, leading to bare shelves in supermarkets across the country. However, the issue is now getting attention at the federal level and changes are being made. Lauren Smith Brody, the founder of The Fifth Trimester and co-founder of Chamber of Mothers, joins Cheddar News to discuss.
Modeled after traditional Taiwanese night markets that founder John Wang experienced growing up, the market showcases the borough it calls home and the diversity Queens is known for.
On today's Biz Breakdownm, Ford beats Tesla to the first EV truck Deliveries, massive flight cancelations wrap up Memorial Day Weekend, and Apple announces new IOS 16 features one week before the WWDC.
Catching you up on what you need to know on Tuesday, May 31, 2022, EU leaders agree to ban 90% of Russian oil by year-end, funerals begin in Uvalde, Texas one week after a mass shooting killed 19 children and two adults, and President Biden meets with the world's biggest boy band BTS.
New real estate data shows that mortgage applications are slipping but home listings are increasing 9 percent from a week ago. It comes as sellers worry they might miss out on the hot housing market before it's too late. Skylar Olsen, Senior Director, Principal Economist, at Tomo joined Cheddar's Opening Bell to discuss.
Gas prices are at record highs just as many Americans are getting ready to hit the road for memorial day weekend. The average price for a gallon of gas is now $4.59, with all 50 states above $4 per gallon. Dan Eberhart, CEO of Canary, has tips on how to save money and ease some of the pain at the pump.
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.
Catching you up on today’s top stories with discount chain Dollar General stock jumping on its earnings report and Alaska Airlines pilots going on strike.
