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.
Markets turned cautious again, erasing and early gain and ending lower as investors try to handicap how much the new coronavirus variant will impact the economy.
U.S. consumer confidence fell to a nine-month low in November, held back by rising worries about inflation and lingering concerns about the coronavirus.
Wall Street’s losses deepened on Tuesday after the head of the Federal Reserve said it will consider shutting off its support for financial markets sooner than expected.
The United Kingdom's antitrust watchdog has blocked Facebook's acquisition of Giphy and ordered the social network to sell off the GIF-sharing platform, saying the deal hurts social media users and advertisers by stifling competition for animated images.
A labor official is confirming a new union election for Amazon workers in Bessemer, Alabama based on objections to the first vote.
Now that COVID-19 vaccines are readily available, American Dream mall developer Paul Ghermezian and his team are hoping customers will look for that in-person holiday shopping experience that they missed throughout 2020.
Twitter says co-founder Jack Dorsey will step down as CEO of the social media platform.
The stock market steadied itself Monday following a slide last week brought on by the newest coronavirus variant.
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.
On this year’s Black Friday, things almost seem normal. Malls and stores report decent-sized crowds, if not the floods of people that used to fight over the latest toys and electronics.
