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.
Chinese electric vehicle maker, Xpeng, just announced it's jacking up the price of its EVs due to the cost of raw materials on the rise. Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, joins Cheddar News to discuss.
Stocks closed near session highs Thursday as investors focused on falling jobless claims and shares that have a lot to gain from a recovering economy, including chipmakers.
David Scranton, CEO and Founder of Sound Income Strategies, joins Closing Bell to discuss today's close, why markets have been on a roller coaster lately, the biggest factors investors are watching, and what the Federal Reserve might do to try to combat rising inflation.
Jesse Coors-Blankenship and Gregg Hill, general partners at Parkway VC, joined Cheddar News' Closing Bell, where they say they decided to invest in Sandbox AQ because the Alphabet spinoff is 'one of the most important companies of the century' with a team carrying strong knowledge of A.I. and quantum tech.
Electric scooter company Spin is teaming up exclusively with ride-hailing business Lyft to provide scooter rentals in cities across the country, beginning with Nashville. Spin CEO Ben Bear joined Cheddar News to talk about the rollout and detail how Lyft users will be able to access Spin scooters. "It's a completely native integration, and we think reducing that friction it's just gonna be key to getting more people out of personal cars and onto bikes and scooters across the country."
Users can now call for a traditional cab on the Uber app in New York City. The company that started out looking to disrupt yellow cabs and car services is now hoping to be a host for all taxi services globally in the future.
