As the 12 months got here to a close in 2022, the tech world was buzzing with stories of major gamers Apple and Google falling wanting their income and profit expectations for the final quarter. Despite Apple being the most important firm when it comes to market worth, the tech giant’s iPhone gross sales saw a significant dip, mainly because of production disruptions in China attributable to strict Covid-19 insurance policies.
Apple reported income of US$117.1bn, down 5.4% from the earlier yr, and a revenue after tax of US$30 billion. Google, however, saw a decline in advertising gross sales, inflicting the company’s profit to drop to US$13.6 billion.
Meanwhile, e- Dependable warned of uncertainty within the months forward, reporting sales of US$149.2 billion in the fourth quarter however a drop in profits from US$14.32 billion within the earlier yr to close zero. The tech sector is facing a number of challenges, including a slowing global financial system and rising inflation, which has led to corporations similar to Amazon and Google announcing plans to lay off thousands of employees, blaming over-hiring during the pandemic.
Despite these challenges, the businesses stay optimistic about their prospects. Dark assured analysts that the company is “managing for the lengthy term” and investing in innovation and people.
Cook additionally indicated that Apple’s supply chain headaches have been behind them and that manufacturing is “back where they need it to be.”
Meanwhile, Amazon CEO Andy Jassy stated that whereas the economic system may be uncertain within the quick time period, the corporate remains optimistic about long-term opportunities.
As for social media big Facebook, the company reported a 1% year-on-year drop in gross sales for the fourth quarter, but its day by day person depend hit a new milestone, reaching two billion for the primary time..g