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.
Robinhood has released its newest debit card, called the Robinhood Cash Card, which allows users to invest spare change with a rounding up feature while spending money. Robinhood Chief Product Officer Aparna Chennapragada, joined Cheddar News to talk about the latest product from the fintech company. "When we talk to our customers, especially this generation of customers, they want to have their debit primary. They're wary of fees. They're wary of credit cards," she said. "But they are all interested in investing, whether it be in the stock market or crypto, and what we said is, let's build a product that turns spending into investing."
David Swartz, an equity analyst at Morningstar, breaks down the bright spots of Nike's direct-to-consumer model and how a Kohl's buyout could affect the company's structure.
Anne Price, President of The Insight Center for Community Economic Development, talks about the Fed's approach to tackling inflation and how the policy changes disproportionality impact low-income and multicultural households.
Francis Oh, APAC CEO of Qraft Technologies, discusses the market reaction after FOMC members signal they're in favor of more aggressive rate hikes and how geopolitical pressures may impact the Fed's inflation target.
Boeing shares saw a pullback after a 737-800 aircraft with 132 people on board nosedived mid-flight, crashing into the mountains of Southern China. China's Eastern Airlines plane was not a 737-Max model, which was grounded worldwide after two fatal crashes in 2018 and 2019, but it's once again raising questions about the safety of Boeing's aircraft. Michael Boyd, CEO of Boyd Group International, gave Opening Bell his take on what another crash means for Boeing.
