Bloomberg Technology
This Week in Tech Earnings and the US Election
Nov 1, 2024
Pat Gelsinger, CEO of Intel, shares insights on the company’s promising third-quarter results and future strategies. Vivek Ramaswamy, a former presidential candidate, discusses the intersection of technology and policy amid the election. Rameez Shalot analyzes Amazon's strong earnings linked to its cloud business, while Kristen Smith highlights the pressing need for crypto regulation ahead of the election. Together, they explore how political dynamics are shaping the technology sector, including AI's potential impact and the evolving regulatory landscape.
42:53
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Quick takeaways
- Apple's earnings reveal challenges in Greater China, indicating geopolitical issues and competitive pressures affecting future growth prospects.
- Amazon's strong performance in AI services and e-commerce highlights successful operational efficiencies that enhance its competitive position in the market.
Deep dives
Apple's Challenges in China
Apple's performance in China continues to be a significant concern, as the company reported growth in all regions except Greater China. Although their global iPhone revenue exceeded expectations, the guidance for the upcoming quarter indicates only low single-digit growth, which underperformed analysts’ projections of 7%. The company is grappling with geopolitical issues that may be affecting consumer confidence, particularly in China where demand may be faltering despite the successful launch of the iPhone 16. Experts suggest that regulatory hurdles and market competition are critical factors that Apple needs to navigate to unlock potential growth in this vital region.
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