Apple, Amazon, Alphabet stocks fall after earnings disappoint

“The war in Ukraine, inflationary pressures, economic uncertainty and macroeconomic headwinds kept the consumer sentiment weak in 2022 while smartphone users reduced the frequency of their purchases,” Harmeet Singh Walia, a senior analyst at Counterpoint Research, wrote in a report on Apple.Article content

Shares of all three companies were down in premarket trading, with Amazon falling 5.4 per cent and Alphabet losing 3.8 per cent. Apple slid 3.2 per cent. That helped pull down Nasdaq 100 futures lower, indicating a possible reversal of the Thursday rally led by Meta Platforms Inc., whose results emphasized cost cuts and tens of billions of dollars in share buybacks.Article content

“I’m excited by the AI-driven leaps we’re about to unveil in search and beyond,” Pichai said in a statement. “When you look at the opening that started happening in December, we saw a marked change in traffic in our stores as compared to November — and that followed through to demand as well,” Cook said on a conference call with analysts. Production “is now back where we want it to be,” he also said.

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