Tech Report: 7/28
Jane King takes a look at the latest news in Technology including sales in big tech, ecommerce slowing, and Youtube creeping closer to Netflix.
Apple said sales of iphones were up 50 percent and that their 5-g phones are still selling well in what is normally a slow season.
Youtube revenue came in over $7 billion, drawing close to Netflix’s $7.34 Billion quarterly revenue, with over 120 million people watching Youtube on their TVs every month.
Microsoft reported sales and profit that exceeded analysts’ estimates, with its market value now topping $2 trillion.
UPS shares are hitting a 3 month low as ecommerce starts to calm down. UPS, Fedex, and other rivals responded to the surge in home delivery demand by adding profit-boosting surcharges but there are starting to be signs that home delivery is slowing.