Big Tech Trio Victory Quarter

Technology sector updates

This article is an on-site version of the #techFT newsletter.sign up here Send the full newsletter directly to your inbox each week

Trinity of trillion dollar tech companies Proven overnight The incredible range of Big Tech’s pandemic prosperity due to the tendency to work from home, buy online, and buy gadgets that enable these connections.

In June quarter revenue, Apple, Alphabet, and Microsoft each benefited from increased hardware sales, a digital advertising boom, and increased demand for cloud services.

All three generated about $ 5 billion in after-tax profits per week. Total for the quarter was $ 56.8 billion, almost double the previous year and 30% more than Wall Street predicted. In total, it generated $ 189.4 billion in revenue. That’s a 39% increase over the year-ago quarter, about $ 15 billion more than Wall Street expected.

“Absolutely great,” said Jim Tierney, portfolio manager at AllianceBernstein, as advertisers are competing to follow an audience with a huge number of online services. Is just on fire. ” “All the digital habits we’ve learned in the last 12 months are that we’ll stick to us when we get out of it,” he added.

Facebook’s results after today’s market closure and Amazon’s results on Thursday should support this trend.

Apple’s iPhone sales surged 50%, while Google’s advertising sales surged 69% year-on-year. Growth on Microsoft’s Azure cloud platform has accelerated again to over 50%.

Alphaville says The third goes against the axiom of business analysis that the larger the company, the slower the growth. Rex insists Explosive earnings are sustainable beyond the pandemic. This will give investors endless joy, but fresh ammunition for regulators to do an exclusive look at how a handful of tech companies have come to dominate our digital world. Give.

Internet of Things (5)

1. Shopify doesn’t show shopping drops
Prior to Amazon’s results, Shopify will be retailing online Continues strong growth Throughout the rest of the year, even when physical stores reopen in the US and Europe. Canada’s online shopfront provider reported the first $ 1 billion quarter, and Chief Financial Officer Amy Shapero told analysts: [ecommerce spending] It has been reset at a higher level and is now growing at a more normalized level. “

Daily newsletter

#techFT provides news, comments, and analysis on the big companies, technologies, and issues that shape this fastest sector move from specialists based around the world. click here Get #techFT in your inbox.

2. LG will display a note on the TV panel
After the pandemic, you’ll be less likely to go out and watch TV, and the LG Display may warn you. Brace for low price Demand for televisions declined in the second half. The world’s second-largest display panel maker reported operating profit of 710 billion won ($ 606 million) in the second quarter as sales increased 31% year-on-year.

3. Wall Street panics Chinese stocks
The value of Chinese stocks on Wall Street has been 2 billion over the last two decades as investors have turned a blind eye to the volatile legal structure known as the Variable Interest Entities (VIE), which underpins many of the largest lists in the United States. Soared to the dollar. However, the ban on tutoring companies using this structure has raised concerns that other VIEs such as Alibaba, Pinduoduo and JD.com could be attacked. Report our market team.

4. UK chip options are thin wafers
The UK government’s sudden concerns about the overseas acquisition of Newport Wafer Fabs in Wales appear to be driven by the perception that the UK is left behind in the competition to secure a reliable supply chain for the latest semiconductors. Report of Jim Pickard and Tim Bradshaw A review of the UK strategy is underway as the US and EU are pursuing their own plans to reduce reliance on Asian chip makers.

5. Biden warns that cyber attacks can mean a real war
Joe Biden warned that a cyberattack is possible Escalate to a full-scale war, Because tensions between Russia and China are rising over the hacking incident. “If we fall into a war, a true shooting war with a great power, it will result in cyber infringement,” he said in a speech. On the other hand, in India Concerns about the impact Cases of hacking by the government of journalists and public figures using NSO’s Pegasus spyware.

Technical Tools — Nokia’s Rugged XR20

Nokia-branded phone maker HMD Global has devised the first rugged “service life” smartphone. XR20 Built to military grade standards, it has a 3-year warranty and a 1-year free screen replacement. It can withstand extreme temperatures, 1.8m drops, and 1 hour of water. There are 48MP and 13MP dual cameras with Zeiss Optics, 5G speed and 15W wireless charging. The 64GB version is currently available for pre-order from £ 399 in the UK and will be available in the US on August 24th for $ 550 as the 128GB version.

Recommended newsletter for you

#techAsia — Billions of guides made and lost in the AsiaTech world.sign up here

#fintechFT — Up-to-date on the most pressing issues in the technology sector.sign up here

Big Tech Trio Victory Quarter

Source link Big Tech Trio Victory Quarter

Exit mobile version