In the headlines 26 Oct: MSFT, GOOGL, META, AAPL, TWTR, GPS

By Kirsteen Mackay

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Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), Meta Platforms (NASDAQ: META), Apple (NASDAQ: AAPL), Twitter (NYSE: TWTR), Gap (NYSE: GPS) and SK Hynix make the headlines this morning.

Big Tech News

Microsoft (NASDAQ: MSFT)

Microsoft $MSFT tops profit estimates, but slumping PC sales and dollar strength weigh on Microsoft's revenue. 11% gain is the weakest since fiscal 2018. Bloomberg

Alphabet (NASDAQ: GOOGL)

Alphabet $GOOGL earnings and sales miss analyst estimates. YouTube and Search business hit by digital ad slowdown. Bloomberg

Meta Platforms (NASDAQ: META)

Meta slams Apple for 'undercutting others' with its changes to App Store terms. Bloomberg

·       Paying to 'boost' a social post is now an in-app purchase

·       Change marks the first time Apple takes cut of social ad revenue

Twitter (NYSE: TWTR)

Elon Musk pledges to close Twitter $TWTR acquisition by Friday - Bloomberg

·       Musk held a Monday call with banks providing $13 billion of debt

·       Banks are now taking the final steps to send over the cash

Meanwhile, Twitter employees protest Elon Musk's plan to fire 75% of the workforce - TIME

Gap (NYSE: GPS)

Gap said it would immediately remove Yeezy items and shut down its e-commerce site after ending its partnership with Ye last month - Bloomberg

SK Hynix

SK Hynix cuts 2023 investment by 50%, citing an "unprecedented" drop in chip demand. - Reuters

SK Hynix Inc. is a South Korean supplier of dynamic random-access memory chips and flash memory chips. Hynix is the world's second-largest memory chipmaker and the world's third-largest semiconductor company.

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Topics:
AdTech
Industries:
Consumer Discretionary
Information Technology
Communication Services
Companies:
Microsoft
Google
Meta
Apple
Twitter
Gap

Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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