Weekend Edition 10: Big Tech In Big $$$ Trouble

Google Takes a Tumble
Meta is Flailing
Amazon Investors Flee
Microsoft Earnings Down by 14% Year-on-Year
Apple to Switch to USB-C In Keeping with EU Mandates

WE 10.1: Google Takes a Tumble after Poor Q3 Earnings Call
Bad Numbers, All around, here. Everything is down, down, down. Don’t get me wrong, their revenue still increased, just not at the rate expected, at a paltry $69.1 Billion, with is only a 6% increase, year-on-year. Ad revenue only went up by 2.5%, vs last year’s unicorn-type growth of 43% from the previous year. Let’s talk a little context here, though... What was happening in 2020, during Q3? Oh yes, we were effectively shut down as a nation, due to the PLANdemic. Only $13.9 billion of the $69.1 billion revenue number was net income... That means that between investments, payroll, and various losses, they paid out $55.2 billion during Q3. Just like you, Big Tech is feeling the Ukraine-Biden crunch. You’ll see this come as a common refrain across most of tonight’s stories.
https://www.cnn.com/2022/10/25/tech/google-earnings
#weekendedition #Google #BigTech #badday #badquarter #bidenflation #ukrainianidiocy #TechFreedom

WE 10.2: Meta Flailing... Stock Down 25% Over Night
How the mighty have fallen... It is now worth barely more than 1/4 of what it was at its zenith of $380/ share last summer, at ~$98/ share. That is an eye-watering plunge. Something tells me that unless Meta gets a huge infusion of dark cash, it won’t be much longer for this world. Good riddance, LifeLog. Good riddance. What caused this seemingly sudden turn of opinion? Let’s look back, all the way to 2016... The last time shares were this low in Facaebook. Well before Zuck’s weird obsession with VR started. All of this culminated in an overnight trip around the toilet bowl for the current valuation to lose about 25%. Sure, they are still making money, but they posted another YoY decline in Q3.
https://techcrunch.com/2022/10/27/meta-stock-yikes/
#weekendedition #meta #facebook #sugarboyaintsosweet #dumbzuck #TechFreedom

WE 10.3: Even Amazon is Feeling the Pinch
Amazon shares plunge 15% after a less-then-stellar amount of growth YoY. They still had $127.1 billion in sales from July-September, still had growth, but saw international business go down, due to economic pressures of inflation and the Ukrainian conflict... Or taht is their excuse anyway. Investors are a fickle bunch, ain’t they? I mused about that last week as well... Makes me wonder how sustainable the current system is at all. I don’t want to give anyone a black pill that they haven’t already been playing with anyway, but if even Big Tech is not growing apace, then what does that mean for us little people under their boots that we placed on our throats?
https://www.bbc.com/news/business-63421170
#weekendedition #amazon #salesdown #stockdown #economy #struggles #TechFreedom
WE 10.4: Microsoft Hurting, Net Income Down 14% YoY
They beat the analysts’ projections, but it was still a bad Q3. Revenues were up 11% YoY, mostly carried by Azure cloud Services, with a 35% increase in sales YoY. However Wondows OEM revenue was down 15% YoY, seemingly fueled by a sharp decrease in PC shipments, to the tune of 19.5% YoY. Xbox is also losing revenue, but only 3%. MSFT stock dipped by 2% in after hours trading after that earnings call. Their stock prices have fallen roughly 25% since the beginning of the year. I wonder how much impact the Linux community is having on the Windows license sales numbers... Unfortunately, not likely that much. Let’s change that.
https://www.cnn.com/2022/10/25/tech/microsoft-earnings
#weekendedition #MSFT #microsoft #earnings #revenue #decreases #morestablethanmost #TechFreedom

WE 10.5: Apple to Ditch Lightning Connector?
Looks like they will bend the knee to the EU, though they are not happy about it... Whining about how they “think the the approach would have been better... To not have a government be that prescriptive”. They sound like a spoiled child, used to getting their way, and now throwing a little fit over the inconvenience that the EU is inflicting on them, the environment, and their customers. Give me a break. Bend over, Apple, it is time to take your medicine, and stop being so proprietary. Oh wait, Tim Cook probably does that frequently and enjoys it... That shifts the insult a bit *shudder* *shudder*. I dare you, call me homophobic. Call me intolerant. Call me a bigot. I am a Christian conservative who believes that everything in the Bible is there for a reason. Sin is sin. Sin is doing something that hurts you or another person, and homosexuality, no matter how monogamously it is practiced, degrades both partners far more than heterosexuality does. There are always a constellation of issues there, but I digress. I am pleased to see that even the mighty bastion of proprietary hardware and software on earth can be brought to heel if a large enough government says “boo”. Should government be big enough? Was this a good call by the EU? Time will tell.
https://www.cnn.com/2022/10/26/tech/apple-usb-c-charging
#weekendedition #Apple #EU #chargergate #USBC #nomorelightning #TechFreedom