Gaffams are companies like any other, sensitive to inflation, currency effects, certain supply difficulties and generalized fear of recession. That’s what Wall Street seems to have discovered with some horror this week, with back-to-back quarterly results from Alphabet (Google), Microsoft, Meta, Amazon and, to a lesser extent, Apple. After a decade of phenomenal growth and a two-year pandemic that took them sky high, fueling all things digital, five Silicon Valley stars are marking time.
Posting its lowest quarterly revenue growth rate (6%) since 2013, Google was the first to cast doubt. With its second consecutive decline in revenue and a 52% drop in profits, Meta (formerly Facebook) reversed course, melting its market capitalization below $300 billion, not seen since 2016. Both groups admitted…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.