Home / Mobile / Q3 earnings find Apple and Google looking to the future for hardware rebounds

Q3 earnings find Apple and Google looking to the future for hardware rebounds


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Uber says it has received more than 8,500 demands for arbitration as a result of it ditching delivery fees for some Black-owned restaurants via Uber Eats. Uber Eats made this change in June, following racial justice protests around the police killing of George Floyd, an unarmed Black man. Uber Eats said it wanted to make […]n”,”protected”:false,”author”:9528656,”featured_media”:2067768,”comment_status”:”open”,”ping_status”:”closed”,”sticky”:false,”template”:””,”format”:”standard”,”meta”:”outcome”:””,”status”:””,”crunchbase_tag”:0,”amp_status”:””,”carmot_uuid”:”4bc33636-c280-3f23-9a08-f6c0ee134d72″,”categories”:[35027640,576595954,17396],”tags”:[113093,449560084,217609,208754904,329631584],”crunchbase_tag”:[576602202],”tc_stories_tax”:[],”tc_ec_category”:[],”tc_event”:[],”jetpack_featured_media_url”:”https://techcrunch.com/wp-content/uploads/2020/10/GettyImages-1218228268.jpg”,”shortlink”:”https://tcrn.ch/3kKinqL”,”rapidData”:”pt”:””,”pct”:””,”premiumContent”:false,”premiumCutoffPercent”:1,”featured”:false,”subtitle”:””,”seoTitle”:””,”seoDescription”:””,”tc_cb_mapping”:[“slug”:”uber”,”cb_name”:”Uber”,”cb_slug”:”uber-organization”,”cb_link”:”https://crunchbase.com/organization/uber”,”slug”:”uber-eats”,”cb_name”:”Uber Eats”,”cb_slug”:”uber-eats-organization”,”cb_link”:”https://crunchbase.com/organization/uber-eats”],”associatedEvent”:null,”event”:null,”authors”:[9528656],”hideFeaturedImage”:false,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts/2067719″],”collection”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts”],”about”:[“href”:”https://techcrunch.com/wp-json/wp/v2/types/post”],”replies”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/comments?post=2067719″],”version-history”:[“count”:15,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2067719/revisions”],”predecessor-version”:[“id”:2068212,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2067719/revisions/2068212″],”authors”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/9528656″],”https://techcrunch.com/edit”:[“href”:”https://techcrunch.com/wp-admin/post.php?post=2067719&action=edit”],”author”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/9528656″],”wp:featuredmedia”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/media/2067768″],”wp:attachment”:[“href”:”https://techcrunch.com/wp-json/wp/v2/media?parent=2067719″],”wp:term”:[“taxonomy”:”category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/categories?post=2067719″,”taxonomy”:”post_tag”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tags?post=2067719″,”taxonomy”:”_tc_cb_tag_taxonomy”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=2067719″,”taxonomy”:”tc_stories_tax”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=2067719″,”taxonomy”:”tc_ec_category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_ec_category?post=2067719″,”taxonomy”:”tc_event”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_event?post=2067719″],”curies”:[“name”:”wp”,”href”:”https://api.w.org/rel”,”templated”:true],”_embedded”:{“authors”:[“id”:9528656,”name”:”Megan Rose Dickey”,”url”:””,”description”:”Megan Rose Dickey is a senior reporter at TechCrunch focused on labor, transportation, and diversity and inclusion in tech. rnrnShe previously spent two years at Business Insider covering tech startups focused on the shared economy, IoT and music industry.rnrnShe graduated from the University of Southern California in 2011 with a degree in Broadcast and Digital Journalism.rnrn- See more at: https://www.crunchbase.com/person/megan-rose-dickey#sthash.ir4VFt2z.dpufrnrnPGP fingerprint for email is:u00a02FA7 6E54 4652 781A B365 BE2E FBD7 9C5F 3DAE 56BD”,”link”:”https://techcrunch.com/author/megan-rose-dickey/”,”slug”:”megan-rose-dickey”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/e64a35398ab7fb3ff0de4f0817dc1c78?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/e64a35398ab7fb3ff0de4f0817dc1c78?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/e64a35398ab7fb3ff0de4f0817dc1c78?s=96&d=identicon&r=g”,”links”:”facebook”:”https://www.facebook.com/meganrosedickey”,”twitter”:”https://twitter.com/meganrosedickey”,”linkedin”:”http://www.linkedin.com/in/meganrosedickey”,”crunchbase”:”https://www.crunchbase.com/person/megan-rose-dickey”,”position”:”Senior Reporter”,”cbDescription”:”

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TOKYO, JAPAN – APRIL 11: Uber Eats delivery men ride bicycles through the Kabukicho entertainment area on April 11, 2020 in Tokyo, Japan. Tokyo Governor Yuriko Koike has requested that businesses including schools, athletic facilities, bars and restaurants to temporarily close or operate under reduced hours. The action follows a state of emergency that covers 7 of Japans 47 prefectures as the Covid-19 coronavirus outbreak continues to spread throughout the country. 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the Great 2020 Tech Rally slowing?”,”content”:{“rendered”:”

Yesterday’s earnings deluge made plain that tech shares are not rocketing higher as 2020 comes to a close. Indeed, in pre-market trading this morning, Microsoft, Apple, Facebook and Amazon are all down.n

Alphabet is the only member of the Big Five that is worth more today than yesterday. Strong advertising and cloud results helped the search giant post a return-to-form quarter. But in most other reports there were signs of weakness or underperformance compared to expectations that could undermine the relentlessly bullish attitude tech shares have enjoyed for several months.n


n

The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.n


n

The tailwinds that lifted much of tech this year remain. Every CEO I speak to still thinks that the COVID-19 bump to digital services demand has room to run, and that the digital transformation’s acceleration that has been a regular point of optimism for VCs, founders and public company leaders, will continue.n

""But that doesn’t mean all tech companies will benefit or post outsize results. Those facts don’t imply that pandemic-induced friction won’t add up.n

It’s not only the biggest companies that are treading water. We’re seeing valuations pause in tech’s hottest category — SaaS and cloud — despite continued growth in its constituent companies. The combined sentiment-and-share change could dampen enthusiasm for startup shares, perhaps undercutting some of the hype and FOMO that we keep hearing is driving private valuations higher.n

Are we seeing a change in tech’s temperature while the weather changes? Let’s take a look.n

Good news, bad newsn

Starting with the biggest tech companies, Alphabet’s results were pretty good. The company’s YouTube and cloud segments outperformed expectations, helping the company best expectations.n

From there, things get choppier. Apple beat expectations, but its shares fell after investors were less than impressed with its aggregate results. Microsoft posted good calendar Q3 earnings, including strong Azure performance, but its guidance left investors underwhelmed and its shares also fell. Facebook beat expectations in the quarter, but rising costs seemed to dampen investor sentiment. It lost a little ground after earnings. Amazon’s Q3 was hot, but its Q4 should reduce operating income due to COVID-19 costs. It also lost ground after reporting.n



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