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.
Egyptian authorities have announced the release of a hulking shipping vessel that had blocked the Suez Canal for nearly a week earlier this year.
Wall Street capped a day of choppy trading Wednesday with more record highs for stocks and another drop in bond yields that sends mixed signals about investors' confidence in the market.
The Pentagon said it has canceled a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon.
Amazon founder Jeff Bezos has officially stepped down as CEO of the company he started out of his Seattle garage in 1995.
Software company Kaseya says the cyberattack it experienced over the July 4th holiday weekend but that it was never a threat and had no impact on critical infrastructure.
Banks and energy companies helped pull stocks mostly lower on Wall Street Tuesday, ending the S&P 500's seven-day run of record high closes.
Americans enjoying newfound liberty are expected to travel and gather for cookouts, fireworks and family reunions over the Fourth of July weekend in numbers not seen since pre-pandemic days.
Fireworks may be harder to come by this year amid nationwide shortages that are pushing prices up and leaving shelves empty.
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.
After two months of lower than expected job gains, the June jobs data has brought some cheer to those looking for a faster economic recovery.
