Amazon, Facebook, and Alphabet and Apple all report in these weeks with massively interesting insights for how they are responding to the crisis. Each tech giant moves with different strategies as they scoop up rivals, talent, and make big moves. Next: Apple
Apple 2nd Quarter 2020 Key takeaways:
Apple Results. Tech Giant Earnings for Very Busy People.
Apple had a fairly resilient quarter despite the major headwinds announced earlier in the year as they were one of the first tech giants to see a major shortfall with the close of their retail stores in China and the shocks to the supply chain.
But Tim Cook’s intentional strategy to shift away from a dominant revenue model in hardware to cultivate emerging services revenue streams is paying off.
While iPhone sales indeed fell this past quarter, subscriptions and services were up 18% year over year with over 515 MM paid subscriptions, up $125 MM year over year.
What does this prove? There is a divergence in the Tech Titans strategies. Those who move to diversify their revenue streams prove to be the most resilient in the long term.
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