Technology stocks are under pressure, and Apple shares are down 1.5%
Shares of many technology companies fell during trading today, Monday, in light of the pressure on Wall Street, following the release of weak business results, in addition to the evaluation of economic data.
And Amazon announced profits of $ 278 million in the fourth quarter, compared to profits of $ 14.3 billion in the same period a year ago. Earnings per share were 3 cents, below expectations of 17 cents.
Amazon revenue was $149.2 billion in the fourth quarter, up from $137.4 billion a year earlier and below expectations of $145.4 billion. In 2022, Amazon recorded losses of about $2.7 billion, compared to profits of $33.3 billion in 2021.
In terms of trading, Amazon shares fell by 18:17 GMT, by 1.2%, to $102.1.
The company recorded profits of $29.9 billion in the last three months of 2022, compared to about $34.6 billion a year ago, and earnings per share were $1.88, below expectations of $1.94.
The company achieved revenues of about $117.1 billion, below expectations of $121.1 billion, compared to about $123.9 billion a year ago, which is the first decline in revenue since 2019.
Apple’s revenue from iPhone sales fell to $65.7 billion from $71.6 billion, while iPad revenue rose to $9.3 billion from $7.2 billion.
In terms of trading, Apple’s share rose by 18:35 GMT, by 1.6%, to $151.9.