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.
Even amid the Great Resignation, the cannabis industry saw major job growth. As of January 2022, the legal industry supported more than 428,000 jobs — a 33 percent increase year-over-year, according to the sixth annual jobs report from Leafly, a website focused on cannabis use and education. Yoko Miyashita, CEO of Leafly, joined Cheddar News' Closing Bell to discuss. “You know we've got big moments coming ahead in New Jersey and New York with adult-use sales starting in New Jersey, hopefully by this fall, with New York quickly to follow," she said. "So we're hugely optimistic about the kind of job growth that those markets can drive with the right type of market setup.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Theaters needed new releases to fill seats, and unfortunately for them, the supply of movies is entirely out of their control. Cheddar's Alex Vuocolo takes a deeper look.
Nick Bailey, president, and CEO at Re/Max, LLC joined Cheddar News to talk about the company's strong Q4 earnings results and the tight real estate market overall. "Real estate has continued to be a very strong sector, and coming into '22, we're already seeing the spring selling season be accelerated because of such high buyer demand," he said. "Buyers thinking that interest rates could fluctuate and go up even more are wanting to be in the market sooner than later."
A still-unidentified attacker was able to steal 254 tokens from 17 traders who held their NFTs on the OpenSea marketplace. Cheddar's Alex Vuocolo takes a close look at how the crypto community is responding.
