Halloween day full of anxiety for technology companies, which – in the latest quarterly results – have lost ground on the stock market, dragging down the Nasdaq, which lost more than 2%. However, the index closed the month of October slightly higher, while the S&P – just because of this decline – slipped into negative territory.
A fall that destroys the plans of Wall Street, which was running at records for positive months in a row, as had not happened since 2021. But the series was stopped. Playing the role of killjoy in this round of autumn quarterly reports are doubts about the sustainability of artificial intelligence, which have appeared almost everywhere. The results and forecasts of Microsoft (which lost a heavy 5% on Wall Street yesterday) and Meta (-4%), for example, have put a lot of pressure on the future of AI (or rather, on sustainability). Because artificial intelligence, which in the last eighteen months has drawn many technology companies (such as Nvidia) to historical records, requires large investments to continue the run. And they are investments that to some extent scare the market.
At the same time, it fell to two giants such as Amazon and Apple to provide the accounts of the quarter.
Apple accounts
The Cupertino company beat Wall Street expectations for sales and fiscal revenue in the fourth quarter, thanks to strong initial sales of the iPhone 16, a series of phones designed for new artificial intelligence features and which was published around the end of the season.
Apple reported sales of $94.93 billion, beating Wall Street targets of $94.58 billion. Earnings of $1.64 per share also beat analysts’ expectations of $1.60 per share.
2024-10-31 21:22:00
#Apple #accounts #iPhone #Amazon #hits #estimates #cloud #growth
