How did Apple manage to offset threats of a slump with one of the biggest rallies ever? Hundreds of Amazon employees criticise firm's climate stance.
Jump the Slump: A year ago, Apple's Chief Executive Tim Cook slashed guidance on the back of sluggish iPhone sales and slowing demand. Apple, it seemed, was headed for a slump.
Fast forward to today and the company's share price has more than doubled and it has added a staggering $725m to its value. Currently, it has a market capitalisation of nearly $1.4trn.
A key factor that helped boost the tech giant despite decreased expectations was its ability to offset decreasing iPhone shipments with a growth in sales of smartwatches, AirPods, wireless earbuds and services like music streaming subscriptions and mobile payments.
And now, as Apple prepares to reveal its latest earnings report and unveil its first handsets with 5G wireless technology, analysts expect iPhone shipments to also see growth for the first time since FY2018.
How did Apple manage to beat the bears and will its bullish run continue or end in the near future? Read this article for details.
Taking a Stand: More than 300 Amazon employees have signed a Medium blog post criticising the company for its environmental record, a move that violates Amazon's communications policy and opens the door for the signatories to be possibly fired.
Amazon has long been criticised for its massive carbon footprint, high energy consumption by its cloud computing facilities, greenhouse gas emissions from its logistics network, and providing artificial intelligence capabilities to companies in the oil sector. ET
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