Amazon's profit engine Amazon Web Services (AWS) slowed last quarter, disappointing investors who then sent shares down more than 20% after hours Thursday.
Why it matters: The results come as Amazon's core e-commerce unit is softening as well — a downshift that began when people began to spend more time and money outside their homes.
Apple on Thursday reported quarterly sales and profit that narrowly exceeded estimates as the company managed to weather a variety of economic headwinds.
Why it matters: The report comes as a number of large tech companies have issued dour outlooks amid signs of a significant slowdown.
Subscriber growth for Microsoft's all-you-can-play Game Pass subscription service fell far short of an annual company target tied to CEO Satya Nadella's pay, according to a new financial filing.
Why it matters: The strength of Game Pass has long been used to measure Microsoft's success in disrupting the gaming industry.
One can bring the whales to crypto waters, but getting 'em to dive in after the past year's events will require more finesse.
Why it matters: Trillions in market capitalization in crypto has been wiped out during the market rout. And while a bounce doesn't necessarily require institutional involvement, Big Money could help blunt the volatility characteristic of crypto markets.
President Biden will travel to Syracuse Thursday afternoon to showcase Micron's plan to invest $100 billion over 20+ years to build a "Megafab" semiconductor factory in nearby Clay, N.Y. (Onondaga County).
Why it matters: The plans, fueled by Biden's CHIPS and Science Act, include the largest semiconductor plant in U.S. history, and tens of thousands of New York jobs.
Spotify, Meta and other Big Tech rivals are putting Apple in their crosshairs for what they say are unfair and anti-competitive practices meant to bolster Apple's business at the expense of their own.
Why it matters: The industry backlash towards Apple has been increasing as the tech giant pushes to make more money from its software services, like App Store, Apple Music, iCloud, Apple News, Apple TV+ and Apple Pay.
Meta, Facebook's parent company, was hit with a $24.7 million fine Wednesday after a Washington judge found the tech giant had intentionally violated the state's campaign finance disclosure laws 822 times.
The big picture: The fine that King County Superior Court Judge Douglass North issued "represents the largest campaign finance penalty anywhere in the country — ever," per a statement from Washington Attorney General Bob Ferguson. A Meta spokesperson said the firm is assessing its options and declined to comment further.
Despite federal efforts to block Chinese telecom equipment from U.S. supply chains, state and local governments across the country continued tobuy products designated a threat to national security, a new report finds.
Why it matters: U.S. officials warnChinese telecom equipment could make the U.S. vulnerable to economic espionage or digital sabotage.
Meta shares fell more than 10% Wednesday after the tech giant reported third quarter results that missed investor expectations on earnings, but beat them marginally on revenue and user growth.
Why it matters: After decades of unprecedented revenue and profit growth, Meta's ad business is beginning to slow, thanks to increased competition from TikTok and Apple and overall uncertainty around the economy.
ElonMusk on Wednesday shared a video of himself carrying a bathroom sink into Twitter's headquarters in San Francisco, ahead of the expected close of his deal on Friday.
The big picture: The visit is the latest development in Musk's attempt to buy the social media company for an estimated $44 billion. Here is a timeline of remarks, discussions and dealings in Musk's quest to buy the company.
Researchers at Google-owned Mandiant said in a report Wednesday that they've detected a group attempting to sow division in the U.S. and "operating in support of the political interests of the People’s Republic of China."
Why it matters: Election officials have been on high alert for foreign disinformation campaigns aimed at further dividing the country and casting doubt on the U.S. political system in the weeks before the midterms.
The Biden administration will announce a new 100-day sprint later today aimed at better protecting chemical facilities and manufacturers from cyberattacks, a senior administration official tells Axios.
Why it matters: The chemical sector has been running on cybersecurity regulations that haven't been updated in more than a decade. Those are no longer enough to fend off the sprawling threat facilities face, the official said.
There's a growing fear that political misinformation is spiraling out of control on social media two weeks before the U.S. midterm elections.
Driving the news: Activist groups are sounding the alarm on election-related dis- and misinformation, putting pressure on tech platforms to be more vigilant, per a letter to the CEOs of Meta, TikTok, Twitter and YouTube signed by more than 60 groups and shared exclusively with Axios.
