Last week, the big tech companies Facebook, Apple, Amazon and Microsoft all reported earnings.
In all the conference calls, it was mentioned that there is a slowing down of the US economy and that there is a high probability of a recession in 2020.
Apple(AAPL) beat earnings mainly because expectations were low. Revenue fell because of a 15% fall in iPhone sales. Mac sales, iPad sales, wearables and services are all up.
Microsoft (MSFT) had better earnings that expected. They increased revenue in all segments except Windows OEM. It is important to note a 70% increase in revenue Y/Y in Azure.
Amazon(AMZN) earnings were as expected. Revenue were up year over year by 31% across all 3 revenue segments with a 45% rise in AWS(Amazon Web Services). Just like with Microsoft, Amazon is moving into cloud computing. However, Amazon lowered their revenue guidance for next quarter.
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