In the Middle of a Pandemic, Big Tech Companies are Winning

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Amid the coronavirus pandemic, big tech companies reported record Q2 profits exceeding market expectations.

 

And here’s some big news:

Among the prominent FAANG circle, Facebook   ( ), Apple   ( ) and Amazon   ( ) were the big winners of the quarter posting surprising numbers despite the turmoil of an ongoing health crisis that has affected the global economy beyond anything experienced in nearly a century.

 

On the other hand…

Only Alphabet   ( ), Google’s parent company, reported a revenue decline and notably to be the a first in the company’s history.

 

Alphabet

While Alphabet’s latest revenues were less spectacular, the tech giant still managed to beat analysts’ expectations of $37.4 billion as its total Q2 earnings reached $38.3 billion, 2 percent lower than it’s Q2 2019 revenue with a net income of $6.9 billion versus last year’s $9.9 billion.

 

Surprisingly enough…

Even if it was a challenging quarter for the company with its ad revenues stagnating or declining, its cloud business on the other hand was one of the primary drivers of its growth bringing in a whopping $3.007 billion.

Alphabet (Google) Q2 Report

Alphabet (Google) Q2 Report


 

Look:

Alphabet remains to be one of the world’s largest and fastest growing technological companies and it was still able to beat analyst expectations which is why a lot of traders continue to invest on Google stock CFDs.

 

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Now let’s look at the big winners:

 

Amazon

The surge in online shopping and e-commerce was beneficial to massive online retailer Amazon as it recorded a nearly $89 billion in sales, a number that’s significantly higher than the predictions of most financial experts.

 

Here’s why…

The ongoing coronavirus outbreak has forced the general population to stay at home resulting in widespread store closures. And with nowhere else to go, most consumers are now opting for online orders in lieu of in-store trips.

Other mass retailers including Target and Walmart have also posted significant revenues over the recent months.

 

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Apple

American multinational technology company Apple posted an 11% growth to $59.7 billion invalidating expectations of analysts that the company’s revenue will decline by 2% on average.

 

There’s more…

With its blockbuster earnings, Apple’s market value also surged making it the world’s most valuable company, a position that has been previously held by oil giant Saudi Aramco   ( ).

 

Get this:

At this point, there’s no doubt that the company was able to bounce back from its historic low back in March and if you would like to invest on its shares then be sure to trade Apple stock CFDs with a trusted service provider.

 

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Apple Page

Facebook

Facebook, the world’s largest social network also posted a glowing Q2 report with sales surging by 11% to $18.7 billion.

 

Here’s the thing:

The company managed to rake in some substantial earnings and was even able to beat market expectations despite the massive boycott from a growing group of its advertisers pressuring the social media giant to do more in curbing hate speech and disinformation on its platform.

Facebook’s advertising revenue, one of its major source of income, surprisingly was still able to increase by 10 percent at $18.32 billion.

 

What’s interesting is that…

Despite various advertising boycotts, Facebook continues to grow and it can’t be denied that it is too big for many advertisers to ignore which is why a lot of traders are taking a position on the change in the value of this interesting asset.

If you’re interested in trading Facebook shares then be sure to consider investing in stock CFDs.

 

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Look:

Trading stock CFDs (contract for difference) has become increasingly popular globally as it enables traders to speculate on the changes in the market value of an asset without having to actually buy it.

Basically…

You predict if the value of the asset will rise or fall and if the underlying asset’s value changed on how the you predicted it, then you make a profit.

If you want to try out stock CFDs then we strongly recommend that you only register with trusted and regulated brokers that are listed above for a safe and secure trading experience.

 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
 

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