Amazon reported higher sales and earnings for the third quarter, and it was boosted by its fast-growing web services business.View on euronews...
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Continue ReadingSTORY: Big Tech keeps beating forecasts, with Apple and Amazon the latest to post blockbuster numbers. :: FileApple is heading into the holiday quarter with a strong forecast, as CEO Tim Cook says demand for the iPhone 17 is driving sales and revenue expectations past Wall Street estimates.Speaking to Reuters, he predicted double-digit sales growth for the phones this quarter, and up to a 12% jump in overall revenue.That's despite ongoing supply issues and delays in shipping new models to China that hurt iPhone sales last quarter.The company made up for that with strong demand for other products including AI-powered AirPods, and profits still topped expectations.Apple shares rose 3.7% in after-hours trading on Thursday.Its latest results show that the biggest concerns investors had, like U.S.-China tensions and slow AI rollout, were less of a drag than the challenge of producing and shipping millions of devices.Cook said Apple is still working to resolve some of the supply constraints.:: FileAmazon also beat expectations. Cloud revenue there grew at its fastest pace in nearly three years, helping the e-commerce titan forecast stronger quarterly salesThat sent its shares up 14% in after-hours trading, adding some $330 billion to Amazon's value. The company says demand for AI services is surging, and it’s planning to ramp up spending next year, with capital expenditure already nearing $90 billion so far in 2025, mostly on AI projects. Strong cloud demand is helping the firm offset slower growth in its e-commerce business, which is preparing for the holiday rush amid shaky consumer confidence and global trade uncertainty...
Continue ReadingNasdaq futures rise sharply as Amazon, Apple results bring cheer. Disney channels go dark on YouTube TV over dispute. Vance, Duffy warn of 'disaster' if shutdown stretches into Thanksgiving...
Continue ReadingWhile the market is priced for perfection, some companies are reporting results that are less than perfect...
Continue ReadingSilicon Valley chipmaker Nvidia plans to supply hundreds of thousands of its graphics processing units for projects with South Korean businesses and the government to advance the country’s artificial intelligence infrastructure and technologies. The plan was announced Friday by the government, Nvidia, and some of South Korea’s biggest companies, including chipmakers Samsung Electronics, SK Hynix and auto giant Hyundai Motor, after President Lee Jae Myung met with Nvidia CEO Jensen Huang...
Continue ReadingStraker Limited recently announced it has renewed and expanded its strategic partnership with International Business Machines Corporation, securing a three-year agreement valued at approximately US$28 million, with an option for IBM to extend for another year, focusing on deploying AI-driven translation solutions and building specialized small language models together on IBM Cloud. This renewed collaboration highlights IBM's ongoing commitment to advancing enterprise AI adoption globally,.....
Continue ReadingNvidia announced a slew of deals in South Korea to support the country's development of sovereign AI...
Continue ReadingCocoa prices plunge 51% in 2025 after record highs, while chocolate producers rise 14% as margins recover...
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