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.
Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions.
Stocks are off to a solid start on Wall Street Tuesday as investors continue to wager that the new variant of the COVID-19 virus won’t pose a big threat to the economy.
Hawaii Flooding, Beijing Boycott & Disrupting Death
New York City has become a testing ground for super-fast grocery delivery services like Gorillas, offering instant gratification in the 10 to 15 minutes.
Cheddar senior reporter Michelle Castillo dives into the aftermath of what the NCAA's changing stance on student-athletes profiting off of their name, image, and likeness.
Mercedes-Benz is bringing its first all-electric luxury vehicle brand, EQS, to the United States. Cheddar's Chloe Aiello takes a spin and reports.
An activist investor is pushing department store chain Kohl’s to either sell the entire company or spin off its e-commerce division.
Stocks closed solidly higher on Wall Street Monday, aided by a broad rally that included travel-related companies that stand to benefit from more reopening of the economy. The S&P 500 rose 1.2%, making up nearly all the ground lost last week.
The American Truck Driver Association estimates it will have to replace one million truck drivers over the next decade. But the problems are becoming especially dire now with mounting supply chain issues.
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.
