Overview

• Major tech companies like Apple, Amazon, and PayPal reported slowing or declining revenue amid global economic uncertainty.
• Companies like Booking Holdings and DraftKings benefited from continued consumer spending and the growth of online gambling.
• Chip shortages and supply chain issues impacted production and sales for companies like Nikola and Ferrari.
• Streaming and cloud services remained bright spots for Amazon and Fastly, but outlooks were cautious.
• Analysts expressed mixed views on tech stocks going forward, with optimism about Amazon but concerns about overvaluation for Apple.