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.
In recognition of National Women’s Day, the pharmaceutical company Organon is giving all of its employees the day off. Geralyn Ritter, head of external affairs and ESG, for the women's therapeutics business, joined Cheddar News to discuss its call to action and its platform to grow awareness regarding specific health challenges women face. “We need to be more aware of the disproportionate impact that a tremendous number of stressors have on women and that includes broader global events from climate change to the tragedy unfolding in Ukraine with miles-long lines of women and children," Ritter said. "We simply have to make a decision that this is not acceptable anymore."
The investment firm of billionaire Ryan Cohen has taken a large stake in Bed Bath & Beyond and is recommending that the struggling retailer sell all or part of its business.
Jay Hatfield, Chief Investment Officer at ICAP, believes a lot of the bad news regarding the fighting in Ukraine and Fed is already priced into the market and looming uncertainty factored into Friday's movement. However, he also believes the upcoming Fed decision will be good news for Wall Street.
NFT platform OneOf has partnered with Duke University's athletic program to create a special men's basketball NFT collection ahead of Mike Krzyzewski's final home game as Duke head coach this Saturday. Matt Marino, VP of Sports & Lifestyle at OneOf, joins Cheddar News' Closing Bell, where he takes viewers through the offerings available for collectors and his company's other pursuits in the sports collectibles space.
