Shares of Apple, Amazon and Facebook fell on Friday after tech giants reported Thursday that they disappointed investors.
Apple closed with a 5. 6% drop, Amazon fell by 5. 5% and Facebook fell by 6. 3%. The decrease in percentage costs erased nearly $250 billion of its combined market capitalizations, more than the overall capitalization in the Disney market ($219 billion), Netflix ($210 billion) or Coca-Cola ($207 billion).
Apple increased its net sales by 1% year after year to succeed at $64. 7 billion in its fourth quarter on September 26. This increase reflects a 29% increase in Mac sales and a 46% increase in iPad sales, while millions of others turned to Apple’s products for paintings and examined the pandemic at home.
However, iPhone sales fell 21% to $26. 4 billion and net sales fell by 28% in Greater China, resulting in a 7% drop in net source of revenue to less than $13 billion. Apple also declined to give a monetary recommendation for the current quarter, disappointing investors hoping to get a concept of management expectations for the new iPhone 12.
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Amazon recorded a 37% increase in net sales in the third quarter to $96. 1 billion, with net product sales up to 33% and net service sales up to 43%. Revenue increased 29% to $11. 6 billion in its cloud computing division, AWS, generating $3. 5 billion in operating profit — more than part of Amazon’s overall operating profit of $6. 2 billion.
Facebook reported a 22% increase in profits to $21. 5 billion in the last quarter, almost entirely due to a 22% increase in advertising sales, resulting in a 12% increase in the operating source of profits to $8 billion. the construction of its daily and monthly active users by 12% year-on-year at $1. 8 billion and $2. 7 billion, respectively.
However, Facebook also warned of “significant” uncertainty next year, as the accelerated shift to online grocery shopping and the rise of virtual advertising, the pandemic may not last, and platform settings and new regulations can also cause unrest for your business.
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Alphabet’s effects in the third quarter beat analysts’ expectations: Revenue increased 14% to $ 46. 2 billion, and Google Search, Google advertising and YouTube and Google Cloud posted strong sales growth. .