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Big week for Big Tech as earnings, hearings loom | Malay Mail

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SAN FRANCISCO, Oct 26 — Big Tech is bracing for a tumultuous week marked by quarterly results likely to show resilience despite the pandemic, and fresh attacks from lawmakers ahead of the November 3 election. With backlash against Silicon Valley intensifying, the companies will seek to reassure...

The logos of Amazon, Apple, Facebook and Google in a combination photo from Reuters files.

Earnings reports are due this week from Amazon, Apple, Facebook, Microsoft, Twitter and Google-parent Alphabet, whose combined value has grown to more than US$7 trillion. The results come amid heightened scrutiny in Washington of tech platforms and follow a landmark antitrust suit filed against Google which could potentially lead to the breakup of the internet giant, illustrative of the “techlash” in political circles.

“For the most part, tech companies know how to do this dance,” said analyst Rob Enderle of Enderle Group.Ed Yardeni of Yardeni Research said the outlook for Big Tech may not be as rosy as it appears. Organisers of a Facebook ad boycott vowed early in the third quarter to continue their campaign, saying the social network’s top executives failed to offer meaningful action on curbing hateful content.

Amazon, Google and Microsoft each have cloud computing divisions that have been increasingly powering revenue as demand climbs for software, services and storage provided as services from massive datacenters.

 

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