Big Tech Posts Solid Results While Sounding Caution Over Virus
- Third-quarter blowout belies fears of murkier outlook ahead
- Amazon, Apple, Facebook, Alphabet make up a fifth of S&P 500
This article is for subscribers only.
The world’s largest tech companies notched a blowout third quarter on Thursday, aided by a pandemic that spurred demand for smartphones, e-commerce and cloud computing for at-home workers. Less upbeat was the outlook for the rest of the year.
In a closely watched measure of how four of the five biggest companies in the world are faring, Facebook Inc., Amazon.com Inc., Apple Inc. and Alphabet Inc. shrugged off fears over regulatory scrutiny and a frothing tech bubble to post earnings for the September quarter that beat projections.