Aug. 1 at 7:48 PM
Big Tech Says Consumers Are Still Spending—For Now
Despite signs of a cooling economy, tech giants report steady consumer demand. AMZN saw North American sales rise 11%, with CEO Andy Jassy noting no signs of slowing. AAPL posted record revenue in over 24 regions, with iPhone sales jumping 13% globally. EBAY's U.S. gross merchandise value rose 7%, up from 0.5% last quarter, fueled by pricing strength. ETSY also saw steady spending, particularly among higher-income buyers.
Still, the upbeat tone clashes with recent macro data showing rising inflation, slower hiring, and new tariffs that may test consumer resilience in the coming months.
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