Apple and Amazon sales rise despite global inflation | Amazon Sales


Apple and Amazon sales rise despite global inflation

Due to increasing inflation, the world's economy is in dire straits, and the people who come to the price of food, money and other things in their lives are exposed.

However, US technology Apple and e-commerce platform Amazon saw better-than-expected sales growth, as both countries weighed down their investors, ignoring the global economy.

The data released by the US government yesterday shows that the US economy shrank in the second quarter as well.

Last fiscal year, Apple's profits fell by about 11 percent due to the lockdown in China. While Amazon suffered a loss of $2 billion in net profit.

Apple CEO Tim Cocke said that there are two positive signs, firstly that demand for the iPhone remains stable, but it is facing a decline in areas such as digital advertising.

 If we talk about the challenges faced in this quarter, the sense of growth in sales is very welcome.

He further said that in the period from April to June, the sales of Apple's products and services increased by 2% to 83 billion dollars.

The main contributors to products and services were Apple Pay and its music streaming and television services, which grew by 12 percent.

Meanwhile, Amazon's sales rose 7 percent to $121.20 billion, although its e-commerce business grew in recent months, but Amazon's online sales fell 4 percent in the second quarter.

However, sales of Amazon's cloud computing division AWS grew by a whopping 33 percent.

According to Amazon Chief Executive Andy Jesse, Amazon had warned its investors that its online sales could grow as it did amid the global corona virus, which is why the company spent heavily on manpower and new warehouses. However, this time the situation was contrary to expectations.

"We improved our productivity as we saw continued increases in fuel, energy, and transportation costs," Andy added, "which led to better results."

It should be remembered that in the first quarter of the new year, the online sales of the e-commerce giant decreased by three percent, while the tech giant Apple expressed the fear that the sales will be affected by up to 8 billion dollars due to the new lockdown in China.

 However, Amazon's other businesses, including cloud computing and advertising, are thriving.

According to Andy Jesse, the chief executive of Amazon, the company lost $3.8 billion due to the decline in the share price of the electric vehicle Rivian, and Rivian's market value also decreased by $7.6 billion.

Amazon also predicted a three percent increase in sales in the coming months, which proved to be correct.

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