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.
Spotify’s CEO says that while he condemned podcaster Joe Rogan’s use of racial slurs, he doesn't believe that cutting ties with the popular personality is the answer.
The last trading day of January ended one of the most rocky months for the markets in nearly two years. Dan Russo, Portfolio Manager and Director of Research, at Potomac Fund Management explains what happened in January, and what to expect for February.
Just ahead of Google parent company Alphabet reporting its fourth quarter earnings, investors are keeping an eye on revenue from its cloud services, which has been a major area of development recently as well as its ad revenue. Adam Lampe, CEO and Co-Founder of Mint Wealth Management explains why the cloud may be the future for Alphabet.
Kristin Myers, Editor-in-Chief at The Balance, joined Cheddar News to preview the January jobs report, and to break down the racial disparity in employment numbers in the U.S.
The January jobs report saw really strong jobs numbers coming out of that well above what analysts expected. John Traynor, Executive Vice President and Chief Investment Officer at People's United Advisors explains what such a positive report could mean for the markets in both the long and short term and whether or not this could be a turning point for the labor market.
After weeks of bad news about Peloton, reports indicate that the at-home fitness giant might find itself getting acquired. Doug Astrop, managing partner at Exponential Investment Partners, joined Wake Up With Cheddar to discuss the possibility that Amazon, Nike, and Apple might be showing interest in buying the subscription-based business, whose shares have plummeted near 80 percent in the past year. "At some point everybody hits the limit on how many monthly fees they want to pay, how many subscriptions they want to have," said Astrop. "And you know, you've got Netflix, you got Amazon Prime, you got Spotify — I mean there's there's endless people who want you to pay a monthly fee. So, if you can be part of these bundles, it can really be advantageous for everybody."
With no end to inflation in sight, the Fed was likely on edge prior to awaiting the latest January jobs numbers, which are likely to be yet another issue on Fed Chair Powell's already over crowded plate. The jobs report also coming just days after America's national debt hit a huge milestone -- passing 30 trillion dollars for the first time ever. Kathryn Rooney Vera, Head of Research & Strategy at Bulltick explains the amount of pressure that fed is under as it tries to whip the economy back into shape.
Corporate earnings will continue to dominate the conversation in the business world next week, while a Big Oil hearing will discuss the role oil companies play in climate change and disinformation.
