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.
Stocks closed lower on Wall Street Tuesday as traders took in the latest sign that inflation is still running high ahead of the Federal Reserve’s last meeting of the year.
A gem company in Sri Lanka has unveiled a rare and massive gemstone weighing 683 pounds (310 kilograms) that has been certified as one of the biggest corundums ever found in the country.
Stocks pulled back below their recent record levels on Wall Street Monday as the market’s momentum slows down following its best week since February.
Cheddar senior reporter Michelle Castillo looks into the peer-to-peer fashion rental platform Wardrobe and how the service is helping to cut down on waste.
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.
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Pinterest combed through its millions of searches to determine the top trends for 2022. Its finds included the resurgence of goth fashion, decorating your home with your pandemic pet in mind and the rise of "alt bashes," parties that celebrated life's quirky moments from divorces to empty nesters. Pinterest head of core research Larkin Brown joined Cheddar News' Michelle Castillo to discuss this year's report.
Prices were up 6.8 percent year-over-year In November, according to the latest consumer price index from the U.S. Bureau of Labor Statistics.
A late wave of buying sent stocks to solid gains on Wall Street Friday, sending the S&P 500 to another record high.
Starbucks workers have voted to unionize at a store in Buffalo, New York over the company’s objections, pointing the way to a new labor model for the 50-year old coffee giant.
