Amazon, Apple, Google And Facebook Report Groundbreaking Sales Despite Tech Backlash
The corona pandemic has made it tough for companies to survive and tech giants such as Amazon, Apple, Google and Facebook hold no exception. There is a lot going on, on many fronts and most of it is not pretty. High competition and fierce demand and supply constraints have already made it hard for companies to survive. However, despite big tech backlash, tech giants such as Amazon, Apple, Google and Facebook have reported groundbreaking sales.
Some of the most commonly reported issues that Facebook, Google, Apple and Amazon have been dealing with are anti trust issues, tongue lashing and fierce competition, amongst the corona pandemic already. However, these four companies that make up a large portion of the tech world have still performed really well. This is something worthy of appraise and acknowledgement.
While Alphabet Inc. Google dealt with anti-trust charges, users boycotted Facebook and increased probe of Apple Inc. On the other hand, Amazon dealt with government regulators and news media, on the whole, really challenged all four of these companies. Other problems include regulatory scrutiny and congressional tongue lashing.
All of this proved to be secondary though when Big Tech giants reported ground breaking sales. On the stock exchange, Apple (AAPL) was 3.70% higher, Amazon (AMZN) was 1.52% higher, Facebook (FB) was +4.91 higher and Alphabet GOOGL was 3.05% higher and GOOG was 3.33% higher. Moreover, their reported record quarterly revenue was also higher.
Profit And Revenue
The total revenue for these four giants was $5.3 trillion. It valued at $220.28 billion last quarter. Furthermore, Amazon, Google and Facebook, all three reported double digit revenue growth except for Apple, which only produced best September quarter sales in its history, whereas all three had best quarterly total revenues.
The performance of all these four giants is better than the last quarter, when they reported a total revenue of $200 billion and profit of $29 billion.
All four companies performed well. However, the only problem was a jitteriness in few areas which led to a slide recline in revenue. Otherwise, revenues would’ve been higher. Some of these problems included a jittery outlook for Facebook, lack of forecast at Apple, Google shares declining during late trading and finally, Apple’s projection of outsize spending on important Covid-19 issues.
Things will be meek and bleak in the time to come. Costs will be higher in the holiday season. Amazon believes it will see a hike in productivity with added safety features for its employees, longer breaks for them and revised social distancing practices.
Facebook, on the other hand, will be under jeopardy, for times ahead will be tricky. Their CEO is already talking about fears of a social unrest after the U.S election. Facebook shares may rise but due to privacy concerns and tough times ahead, Facebook will have to be very cautious about its spending so it can gain back from revenues.
Moreover, Apple, which saw a 28.8% decline in revenue in China, didn’t have it easy but still performed in the corona pandemic. There is a lot coming up for Apple ahead and its new iPhones may add to its glory. The new phones are different in many/most capacities and their CEO is optimistic about a positive future ahead. He added that he is bullish on this cycle but hopes for a better run in the next.
Finally, for Alphabet’s Google, their search business returned to strength in its online ads and YouTube. Most people connected through social media during the pandemic and therefore, companies such as Google benefited. There are tough times ahead but all four companies are hopeful.
Stay tuned for more updates at Tech Unveiled.
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