While reporting estimate beating sales and profits for its fiscal second quarter driven by 5G iPhone upgrades, iApple Inc also issued a warning of possible hit of several billion dollars to sale of iPads and Mac because of the global chip shortage. Apple noted almost doubling of sales in China in the quarter and its…
While issuing a caution about the possibility of a slowdown in the growth in usage and ad sales during the pandemic with roll out of vaccines and with people resuming in-person activities, Google parent Alphabet Inc reported record profits for the second straight quarter as well as a share buyback program worth $50 billion. Analysts’…
There was some scepticism among investors about the one-off benefits that were included in the quarterly results and about the high hopes after a year-long rally resulting in a drop in Microsoft’s shares despite the company easily beating quarterly sales and profit expectations of analysts. The Redmond, Washington company has become one of the most…
Even though the global coffee chain Starbucks Corp raised its annual forecast for revenues as well as profits based on its assumption that the vaccine roll out program across the world will help many consumers to return to its stores, there was 2 per cent drop in the shares of the company as it missed…
With the sanctions imposed by the United States hit the business, the Chinese tech giant Huawei reported a sharp drop in its revenues for the first quarter. According to unaudited financial results revealed by the company, in the three months ending March 31, there was a 16.5 per cent year on year drop in the…
HSBC has forecast a bright economic outlook as it reported better than expected profits. For the quarter from January-to-March, an income of $5.8bn was reported by the largest bank of Europe in terms of assets which was higher than the $3.2bn reported by the company in the same period a year ago. Asia, the region…
Amazon is now targeting what it calls older kids with a brand-new lineup of its Fire Kids tablets which have been very popular younger users for long. On Tuesday, the company announced that its new Fire Kids Pro tablet will now be targeted for users aged 6 to 12 years while the Fire Kids’ existing…
Lyft’s autonomous vehicle business has been acquired by Toyota for over half a billion dollars in its efforts to speed up and achieve its target of developing self-driving vehicles. Announcing the $550 million acquisition, the two companies said on Tuesday that the deal will allow them to create a “dream team” of about 1,200 researchers…
Since the banning of the very popular Chinese owned short video sharing app TikTok in India in June last year, about 97 per cent of the app’s user base in the country have been brought onto their platforms by Indian short-video making apps such as Josh, Moj, MX Takatak and Roposo. A report noted that…
The global shortage of semiconductor chips will last for the better part of the current year, said the chief of the networking giant Cisco. The global chip shortage has caused production delays in many companies. The shortage was triggered by a sudden rise in demand for electronic goods as people were forced back home during…
