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.
The major indexes ended Tuesday's session sharply lower due to escalating tensions between Russia and Ukraine. Bill Stone, Chief Investment Officer at The Glenview Trust Company, joins Cheddar News' Closing Bell, where he reminds viewers that Wall Street doesn't like uncertainty, and more of the recent losses are due to geopolitics than inflation.
Karim Hijazi, CEO of Prevailion, joins Cheddar News' Closing Bell, where he says that crypto's decentralized nature will pose obstacles for the FBI's new crypto unit, but it will also make progress with items such as managing fraudulent exchanges.
The NBA's Golden State Warriors recently announced a relaunch of their SuiteXchange platform, which allows owners to resell luxury suites or rent them out for individual games. Brandon Schneider, team president and COO, joined Cheddar to relay the details of the renewed program and what buyers and sellers can expect. "The Warriors don't determine the price. The seller and the buyer really do. And that's actually one of the unique features on SuiteXChange," he said. "So, if the seller wants to set the price at $10,000, making up a number, the buyer can buy it for $10,000 or they can make an offer for something less than that."
The Retail Industry Leaders Association released a report alleging the safety risks, economic losses, and potential job losses they link to a surge in shoplifting crimes in the United States. Lisa LaBruno, senior EVP of retail operations at the trade organization, joined Cheddar News to discuss the impact of websites that allow for the resale of unverified goods and passing the INFORM Consumers Act to stamp it out. “We need to hold the online marketplaces accountable for being a favored venue for criminals to resell stolen product," LaBruno said. "And that is exactly what the INFORM Act is designed to do."
Jamaican Olympic alpine skier Benjamin Alexander joins Cheddar News to discuss his first Olympic appearance and creating more opportunities for diversity in the sport.
Nzingha Samuel, social entrepreneur and community developer at E & Z Star Culture, joins Cheddar News to talk about her efforts creating a space for Black Americans in Ghana.
Cindy Blanco, senior learning scientist at language learning platform Duolingo, joins Cheddar News to discuss users now being able to learn Haitian Creole.
In 2021, Americans reported losses from so-called romance scams hit an all-time high of $547 million, or six times the total losses in 2017, according to the FTC.
