These results are incredible, and seem almost unstoppable.

“America’s biggest tech firms reported dizzying figures, as each surfed on the pandemic’s waves. Amazon’s third-quarter sales grew 37% year-on-year, to more than $96bn; it hired 50% more staff to cope with the demands of locked-down households. Alphabet was the only giant whose share price strengthened, as Google’s ad sales recovered, especially on YouTube. Apple’s iPhone sales were even weaker than expected, while overall revenue and profit held steady. Facebook blew past glowering governments’ scrutiny to report quarterly revenue growth of 22%, with a prediction of better to come over the holidays.” — The Economist Espresso, October 30th, 2020

Jamie Thingelstad @jthingelstad

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