As Safety came to a close in 2022, the tech world was buzzing with reviews of main gamers Apple and Google falling short of their income and revenue expectations for the last quarter. Despite Apple being the biggest company in terms of market worth, the tech giant’s iPhone gross sales saw a significant dip, primarily because of manufacturing disruptions in China caused by strict Covid-19 policies.
Apple reported income of US$117.1bn, down 5.4% from the previous yr, and a profit after tax of US$30 billion. Google, on the opposite hand, saw a decline in advertising sales, inflicting the company’s profit to drop to US$13.6 billion.
Meanwhile, e-commerce giant Amazon warned of uncertainty in the months ahead, reporting gross sales of US$149.2 billion within the fourth quarter but a drop in profits from US$14.32 billion within the previous yr to close zero. The tech sector is going through a number of challenges, including a slowing international economic system and rising inflation, which has led to corporations such as Amazon and Google saying plans to lay off 1000’s of staff, blaming over-hiring during the pandemic.
Despite these challenges, the companies stay optimistic about their prospects. Apple CEO Tim Cook assured analysts that the company is “managing for the lengthy term” and investing in innovation and other people.
Cook additionally indicated that Apple’s provide chain headaches have been behind them and that manufacturing is “back the place they want it to be.”
Meanwhile, Amazon CEO Andy Jassy acknowledged that whereas the financial system may be uncertain within the short term, the corporate remains optimistic about long-term opportunities.
As for social media big Facebook, the corporate reported a 1% year-on-year drop in gross sales for the fourth quarter, but its day by day user count hit a new milestone, reaching two billion for the primary time..