- Google parent Alphabet has pared back large positions in multiple publicly traded firms.
- The company sold off more than 4.3 million shares of the trading platform.
- Alphabet still held about 612,000 shares of Robinhood as of June 30.
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- Apple’s decline Friday was its worst day so far in 2023, and its largest loss since Sept. 29 last year.
- The stock slid after the company said it expected another decline in revenue in the September quarter, although it signaled that iPhone sales would do better than a 2% year-over-year decline.
- The stock is up 40% so far this year.
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- Shares of Apple were down on Friday after the company reported lower year-over-year revenue for its flagship products in the third quarter, although the company beat estimates on earnings per share and revenue.
- Apple reported iPhone revenue for the quarter was $39.67 billion, compared to $40.67 billion during the same period last year.
- CFO Luca Maestri told analysts that Apple expects similar sales results in the following quarter.
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- Amazon’s stock surged on Friday, a day after it reported blowout second-quarter results.
- Analysts cheered stabilizing AWS growth, improving retail margins, and progress on cutting costs.
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- Google said full-time employees can book a room at an on-campus hotel in Mountain View for $99 a night in what it’s deeming a “Summer Special.”
- “Just imagine no commute to the office in the morning and instead, you could have an extra hour of sleep and less friction,” the description reads.
- The company has been cracking down on office attendance in recent weeks.
Read More at cnbc.com
