Analysts expect the coronavirus pandemic to keep boosting Apple's Mac and iPad units, following the company's blockbuster fiscal third quarter report, where it revealed revenue was up 11% year over year.
Facebook CEO Mark Zuckerberg on Thursday said there is no timetable for when employees will return to the company's offices amid a continuing surge in Covid-19 cases in the U.S.
Pompeo's comments come a day after the CEOs of tech giants Amazon, Apple, Facebook and Google testified before the House Judiciary subcommittee on antitrust.
Apple CEO Tim Cook said that services revenue set a new June quarter record in China. Chief Financial Officer Luca Maestri added that iPad also set a June quarter revenue record in Greater China.
Facebook Chief Financial Officer David Wehner on Thursday said upcoming changes to Apple's iOS 14 could hurt the social network's ability to target ads to users.
Apple Chief Financial Officer Luca Maestri didn't expand on the topic, but Apple sometimes announces new iPhones in September and then sells them later.
The company declined to issue guidance for the second quarter in a row, but said on a call with analysts that it expects iPhone supply in the fall to be delayed for a few weeks.
Facebook said its third quarter ad revneue will be impacted by ad boycotts. But with a year-over-year ad revenue growth rate in the first three weeks of July in-line with the second quarter, the boycott doesn't seem to hurt much.
As of Thursday's close, Apple, Amazon, Alphabet and Facebook were collectively worth $4.9 trillion. The companies will likely surpass $5.1 trillion as of Friday's open, taking into account Thursday's after-hours gains.
Checked
20 minutes 56 seconds ago
Business news related to the technology industry, including Apple, Amazon, Microsoft, Google, and Facebook, plus consumer electronics, start-ups, cryptocurrency, media, advertising, streaming, venture capital, antitrust and regulation.