San Francisco, (UrduPoint / Pakistan Point News - 29th Jul, 2022 ) :Amazon and Apple were a relative bright spot in a week of otherwise lackluster earnings results for an industry reckoning with the end of heady pandemic-era growth.
A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty -- making it clear that the boom triggered by Covid-19 restrictions on getting about has tipped toward downturn.
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning, inflation is pushing up prices and Covid-19 is causing temporary shutdowns of factories in China relied on by tech firms.
Recession fears, a strong dollar, shrinking advertising budgets and inflation -- headwinds are coming from every direction at the moment.
"When you think about the number of challenges in the quarter, we feel really good about the growth that we put up," Apple chief executive Tim Cook said on an earnings call.
For Apple, product sales tallied $63.4 billion in a drop from the same period a year earlier, but the dip was more than made up for by services revenue that climbed to $19.6 billion, earnings figures showed.
Demand for iPads and Mac computers exceeded supply in the recently-ended quarter, the main cause being pandemic restrictions that caused "plant closures and plants running at less than full utilization," Cook noted.
Apple was also hobbled by an ongoing...
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