Beijing TIME NEWS OF SINA SCIENCE AND TECHNOLOGY on October 31 morning, according TO THE report, GIANT OF American SCIENCE AND TECHNOLOGY ANNOUNCED financial results in succession LAST WEEK, BUT OTHER BIG OF SCIENCE AND technology BESIDES APPLE IS NOT GOOD PERFORMANCE.
Alphabet, Amazon, Meta, and Microsoft collectively lost more than $350 billion in market value as the giants gave poor reviews for the third quarter and little confidence for the rest of the year. After a decade on a roll, the tech giants now face challenges such as slowing revenue growth and controlling costs.
High inflation, interest rate hikes and recession clouds loom in the United States. Against that backdrop, Apple's top - and bottom-line results were better than expected, which is why its stock jumped on Friday.
Meta became the poster child for this, with its share price plummeting in 2022. Meta's shares had a bad week, the worst since its 2012 listing, falling 24 per cent in five days. The company's third-quarter results missed expectations and average revenue per user fell to its lowest level in nearly two years. The company expects fourth-quarter revenue to fall, its third straight quarterly decline.
"If you look at the business and the world, there's a lot going on right now," Zuckerberg said during the earnings call. It's hard to simply say, 'We're going to do this and everything will be solved. '"
In addition, Microsoft shares fell 2.6% last week and were down 7.7% on Wednesday.
Amazon shares fell 13% last week after it gave a disappointing fourth-quarter forecast, with a dramatic slowdown in its cloud-computing division the main reason investors sold the stock. Amazon's AWS revenue grew 27.5 percent year over year in the third quarter and 33 percent year over year in the second quarter, slowing.
Revenue growth in Google's cloud business climbed from 36% to 38%. While Google will try to rein in headcount growth in the coming quarters, its cloud investment will continue.
Ruth Porat, Alphabet's CFO, said: "We are excited about the cloud opportunity because enterprises and governments are in the early stages of deploying public clouds, and we will continue to invest as appropriate. We are looking for long-term profitability."
Unfortunately, Alphabet's other businesses outside of cloud computing are not doing well. The core advertising business grew only slightly, with YouTube's AD revenue falling from a year earlier. Amazon, by contrast, is catching up with Google and Facebook in digital advertising. Amazon's advertising revenue rose 30% in the third quarter, ahead of analysts' estimates.
Analysts at Raymond James cut their price target on Amazon to $130 from $164 after the results were released, but the firm maintained a "buy" rating because of strong AD revenue growth.
For a long time other industries offered less money than software and the Internet. Now that investors are moving away from tech, there are opportunities elsewhere. Last week, the Dow rose 3%, extending its four-week winning streak. Before 2021, the Dow underperformed the Nasdaq for five straight years.
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