Facebook, Apple, and Amazon have been influential in the tech industry. They have made a mark in the current landscape that it’s hard to imagine the world without them. These three companies are a testament to how strong a good business is amidst the pandemic. Just recently, these companies have recorded blowout earnings. Here’s why.
Facebook, Apple, and Amazon
The three companies have reported that their quarterly earnings have been skyrocketing in the past weeks. This is tangential to what other businesses are currently facing elsewhere in the market.
Facebook, Apple, and Amazon’s stock prices have soared in the past week. After the last trading session during the last week of July, Facebook and Amazon have recorded highs amidst the pandemic. Facebook closed at $253.67 giving Mark Zuckerberg $7 billion. Amazon’s stock climbed up to $3,164.68 netting Jeff Bezos $7 billion.
On the other hand, Apple’s stock climbed up. However, Tim Cook’s earnings did not make it to Bloomberg’s rankings.
Impact of the Pandemic
The Business Insider reported that corporate executives (billionaires or not) have given up less during the pandemic. In a report mentioned by the New York Times, over 3,000 public company leaders were surveyed. It was found out that they took some form of a pay cut. However, it proved to be small when viewed as a percentage of total compensation.
They also noted that even more businesses may explore layoffs as the payroll protection funds begin to run out later this month.
You may also want to read here how the world’s billionaires got even richer during the pandemic.
Opinions expressed by AsianBlurb contributors are their own.
Zakary Kelley is a technology reporter for Business Blurb covering social media and the digital products that are changing our lives.
