Keeping up with the theme of this earnings season, surpassing low expectations, Amazon reported results way better than they were expected. This e-commerce giant that had fought to live up to expectations in 2022, reported a net profit of $3.2 billion on net sales of $127 billion on Thursday, for the first three months of 2023, beating analyst expectations on the top and bottom line.
The online retailer’s profitable cloud platform, Amazon Web Services (AWS), has established itself as an early leader in the market for cloud infrastructure and is still ahead in the list. The reports from Synergy Research Group estimate that Amazon’s market share in the worldwide cloud infrastructure market amounted to 32 percent in the first quarter of 2023, continuing a slight downward trend that saw its market share slip from 34 percent in Q3 2022, to 33 percent in Q4 2022. At the very time, Microsoft gained two points since Q3 2022 and now sits at 23 percent market share, gradually taking away the lead from Amazon.
The year 2022 has been shaped by rough macroeconomic
headwinds. Millions and millions of dollars were wiped away in public company
market capitalizations, investor confidence decreased, and cost burdens
squeezed consumer pocketbooks.
Considering all factors, many of the world’s leading
businesses experienced harsh declines in market share. Still, a few companies
in key sectors managed to have positive growth over the year.
As 2022 has ended, the infographic shows the leading businesses in the world, using data from Companiesmarketcap.com.
Amazon is beginning to deliver orders by drones through the
Amazon Prime Air service. Starting the deliveries in California and Texas, the
company plans to expand the service to more regions over time.
Customers in California and Texas will be able to sign up and place their orders via Amazon Prime Air, while those living in other regions will be notified when the service is operational in their areas. Customers who place orders will receive tracking information and an estimated delivery time when the drone would drop off their package in their backyard. The deliveries will be monitored by Amazon employees.
Digital audio streaming has made its place in a big way in
the past ten years. The data provided by Statista’s Digital Music Outlook shows
that the market size of music streaming increased to US$30.33 billion in 2022,
reaching a total of 776.2 million users.
The pandemic years brought an actual growth in the podcast industry,
as people wanted means of entertainment while staying at home which drove up listenership
and advertiser investment. According to Megaphone, a podcast technology company
owned by Spotify, where 2021 was a time of “content explosion”, 2022 has been
one of “diversification”, as the most noteworthy jumps in podcast downloads
came from markets newer to the medium, such as Spain (+298 percent), Italy
(+244 percent), and France (+375 percent), while the highest growth in unique
listeners in terms of age groups was the 13-17 year olds (+49 percent) and the
55-64 year olds (+45 percent).
Being recognized as a primary leader in the market for cloud
infrastructure, Amazon Web Services (AWS), the online retailer’s profitable
cloud platform, is still ahead of the pack. The Synergy Research Group
estimates that market share of Amazon in the worldwide cloud infrastructure
market amounted to 34 percent in the third quarter of 2022. This figure still
is higher than the combined market share of its two largest competitors, Google
Cloud and Microsoft Azure.
Federal Reserve has aggressively tightened the trillion
dollar market cap club. This has caused tech stocks to plunge back to Earth in
2022, and has shaken up the membership of this club.
The four current members of this exclusive club are:
|
Company |
Sector |
Date Market Cap Hit $1T |
Market Cap (Nov 3, 2022) |
|
Apple (AAPL) |
Tech |
Aug 2, 2018 |
$2.21 trillion |
|
Aramco (2222) |
Energy |
Dec 11, 2019 |
$2.01 trillion |
|
Microsoft (MSFT) |
Tech |
Apr 25, 2019 |
$1.60 trillion |
|
Alphabet (GOOGL) |
Tech |
Jan 16, 2020 |
$1.08 trillion |
Amazon Web Services (AWS) has established itself as a quick
leader in the market for cloud infrastructure. Amazon’s profitable cloud
platform is still ahead of the pack. The market share of Amazon in the cloud infrastructure
market worldwide was nearly 34% in the second quarter of 2022, this is a figure
estimated by Synergy Research Group. This figure still exceeds the combined
market share of its two biggest competitors, Google Cloud and Microsoft Azure.
The era that we live in has become a digital era and the more
the technology is growing, the more there is breach of rules and regulations. There
is a charge on Instagram of incorrectly handling data of children active on
this platform. The Data Protection Commissioner (DPC) of Ireland has decided to
fine Instagram 405 million Euro or $402 million for violating the General Data
Protection Regulation (GDPR). The parent company of Instagram, Meta has already
made an announcement to appeal this decision. Although it appears that this sum
of money is quite high, but it is not the most significant amount of money that
a company had to pay in the history of the GDPR.
Amazon’s new app icon that made its first appearance back in January, has started to look a little different. The icon previously appeared to show a tape that looked like a toothbrush-style moustache, which has now changed.
lmao I completely missed that amazon quietly tweaked its new icon to make it look… less like hitler pic.twitter.com/Jh8UC8Yg3u
— alex hern (@alexhern) March 1, 2021
The toothbrush-style moustache became a popular trend after
being famously associated with comedian Charlie Chaplin and later with Nazi
dictator Adolf Hitler.
Amazon changed the initial look of its app icon after receiving feedback from its customers. “Amazon is always exploring new ways to delight our customers. We designed the new icon to spark anticipation, excitement, and joy when customers start their shopping journey on their phone, just as they do when they see our boxes on their doorstep,” said an Amazon spokesperson about the recent tweak to the app icon’s design.
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Elon Musk, founder and CEO of Tesla, just became the richest
person on Earth, a title that was previously owned by Jeff Bezos, CEO of
Amazon. This happened as Tesla’s stock price continued to rise, leading to Musk’s
net worth of about $188 billion.
.@elonmusk is now the richest person in the world at $190 billion.
— Tesla Owners of Silicon Valley (@teslaownersSV) January 7, 2021
Musk and Bezos’ rivalry in terms of personal wealth is
something that has been going on for years. It was reported that Bezos became
so envious of Musk’s success at one point, that it was Musk’s $1.3 billion
incentive package for Tesla’s Gigafactory in Nevada that became the reason for
the development of Amazon’s beauty pageant-style search for its second
headquarters.
The competition between Musk and Bezos doesn’t just end
here, but the two tech lords also own their own spaceflight companies; Bezos owns
his in Blue Origin, while Musk has his in SpaceX. They have also traded barbs about their
rockets and even fought over hallowed NASA real estate, with SpaceX eventually
gaining victory and becoming the only one of both the companies to successfully
reach orbit.
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