It hasn’t been a good year for tech, has it?
The industry has gotten hammered…
Which is understandable – during market downturns – investors tend to turn away from speculation and hunker down with companies with solid products they can trust.
So, a lot of companies in the tech industry have taken a beating of late.
That said…
There are a couple of bright spots.
Two tech companies that people have been speculating would be slowing down…
Actually aren’t.
In fact, they seem to be humming along…
Which is the exact kind of good news we need right now.
Can you guess which two companies are keeping their shareholders VERY happy?
Obviously, there are a lot of companies to choose from…
But when it comes to tech – which two do you think delivered the goods?
I’ll give you a hint…
They really put the bite into the tech world… some may say – they even have FAANGS.
Alright, alright…
It’s Apple (AAPL) and Amazon (AMZN).
While everybody else is adjusting their financial outlooks to reflect expected losses…
These two are killing it.
First up, Amazon – whose cloud computing business seems to be what’s leading its charge…
As this segment of its model brought in 33% more revenue than the same time last year.
Even more, Amazon’s e-commerce segment – which received a boost from more efficient deliveries and influx of Prime memberships – didn’t do too shabby either.
Both contributing to the company beating revenue expectations – and sending share prices up 12%.
Not to be outshined…
Apple also had a stellar quarterly posting – as it revealed that not only were sales of the iPhone higher than expected – but that ownership of active Apple devices is at an all-time high.
Couple that with the fact that its services segments of Apple Music and Apple TV+ continued to grow quickly last quarter and it’s easy to see why the news sent shares up 4%.
That being said…
It knows that things are bleak right now – which is why it’s making moves to keep that upward trend going…
Amazon announced last week that it’ll be increasing the price of its Amazon Prime membership in Europe by an average of 31%.
The hike most likely won’t cost Amazon a penny…
Meaning it’s essentially free money – unless customers cancel the service – however, since it did the same thing to the US in February of this year without much drop off…
It’ll roll the dice.
Apple is doing what it can too…
As the company is focusing on improving sales in the highly competitive Chinese market.
To entice new Apple customers, it has rolled out discounts on iPhones and related products – which is big news…
As the tech giant is notoriously reluctant to slash prices on its products.
However, it seems this a bullet it’s willing to bite in China in order to get a bigger slice of the world’s biggest smartphone market.
And this was exactly the kind of news we needed…
Things have seemed so bleak lately – that some good news is GREAT to hear.
However, there’s even better news…
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Either way, just remember – there’s always an opportunity in the markets…
You just have to know where to look!
“If you define the problem correctly, you almost have the solution.” – Steve Jobs
