Apple, Alphabet, Amazon hurt as economic slump crimps demand

Improving market: A person walks out of an Apple Store in Annapolis, Maryland. Apple CEO Tim Cook says a loosening of Covid rules in China – one Apple’s biggest markets – is helping to brighten the company’s outlook. — AFP

APPLE Inc, Amazon.com Inc and Alphabet Inc, technology bellwethers with a combined market value approaching US$5 trillion (RM21.4 trillion), posted results that show an economic slowdown is throttling demand for electronics, eCommerce, cloud computing and digital advertising – mainstays of the global tech economy.

Apple’s sales fell more than analysts predicted during the holiday quarter, slammed by slack purchases of iPhones and Macs.