Fears of a recession have dampened explosive growth enjoyed by tech companies throughout the pandemic.
Three of Silicon Valley’s largest companies posted disappointing financial results on Thursday, compounding concerns about a slowdown in the tech sector.
Alphabet, the parent company of Google, reported subdued quarterly revenues as spending on digital advertising was reduced amid economic uncertainty. Similarly, Apple missed both sales and profits targets in the last quarter, hampered by production issues and lower demand for the company’s flagship iPhone.
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