Apple Earnings Miss Forecast For First Time Since 2016 As iPhone Sales Hit By China Supply Chain Snarls | The Street Market News

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Apple’s weak iPhone sales drive first profit miss since 2016

Apple sales fell 5% to $117.2 billion and were down in every part of the world in the quarter. Sales from each product category dropped, except for gains in services and iPads. Earnings per share were $1.88, Apple’s first miss of Wall Street’s profits expectations since 2016. Analysts had expected sales of $121.1 billion and … Read more

TikTok in Europe’s crosshairs as US mulls ban on Chinese-owned app

TikTok holds its End Of Year Event 2022 in Milan, Italy, on Dec. 13. Claudio Lavenia | Getty Images Entertainment | Getty Images TikTok is beginning to feel the sting of political and regulatory pressure in Europe, where the Chinese-owned app has largely evaded the scrutiny it’s faced in the US EU Commissioner of the … Read more

Apple earnings, Federal Reserve meeting drive stocks in the week ahead

January’s market rally faces a major test in the week ahead of multiple major events, the most important of which could be the Federal Reserve’s interest rate announcement and press conference. The Fed’s meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S&P 500 reporting that week. … Read more

Blizzard China: Millions of players lose access to ‘World of Warcraft’ and other games as it goes dark

Hong Kong CNN — Millions of players in China have lost access to the iconic “World of Warcraft” franchise and other popular video games, as Blizzard Entertainment’s servers in the country went offline after two decades. The company’s services in China were suspended at midnight local time on Tuesday, marking the end of an era … Read more

Apple Kisses Up to China Again

Commentary Apple is doing the splits. The maker of iPhones, MacBooks, and AirPods is moving much of its production outside of China to the United States, India, and Vietnam. Simultaneously, the company is shifting production within China from Taiwanese to Chinese companies. Moves to the West and friendly countries will please Western consumers and governments. … Read more

Chinese megastar actress denies abusing two children born to Colorado surrogates

A messy celebrity child custody battle playing out in Denver has become a major scandal in China. Shuang Zheng, 31, considered to be a megastar actress back in her homeland after starring in the TV series Meteor Shower, denies abusing her two children born via surrogates in Colorado. Zheng’s former husband, Heng Zhang, one of … Read more

Tesla and Apple face China risks as share prices plunge

apple and Tesla are facing major headwinds in China which is contributing to investor jitters around the two US technology giants. Tesla shares tanked 12% on Tuesday after the electric carmaker reported deliveries that fell short of analyst expectations, while Apple fell more than 3% as concerns resurfaced about demand for the company’s flagship iPhone … Read more

More iPhone Problems, Foldable iPad Details, MacBook’s New Home

Taking a look back at another week of news and headlines from Cupertino, this week’s Apple Loop includes iPhone production problems, the MacBook’s new home, poor iPhone 14 performance, forgetting the foldable iPad, Apple’s Homepod plans, and the greatest font for your iPhone. Apple Loop is here to remind you of a few of the … Read more

Can Apple Make the iPhone Without China?

Long before it reached your home, even before its tiny components were pieced together in an assembly plant, your phone was already one of the most complex gadgets in the world. It is the product of a delicate supply chain whose every link is forged by competing business and political interests. That chain is starting … Read more