The profits of the world's leading technology companies are on the rise

 

In the face of the epidemic, the profits of the world's leading technology companies are on the rise

The world's leading technology companies Microsoft and Apple have reportedly seen their profits rise significantly due to restrictions imposed in the wake of the Corona epidemic. Lockdown opportunities, especially as a result of the epidemic, have boosted corporate earnings and increased profits, with Internet advertisers increasing their spending, customers turning to new phones and updating cloud storage facilities.

Apple had a net profit of $ 21.7 billion for the three months to March-June this year. This is mainly due to the fact that consumers are flocking to buy the latest 5G iPhones and increasing registrations for its music and TV streaming services. Commenting on this, Apple CEO Tim Cook said, "During this quarter, our team introduced unprecedented innovations and more powerful products to our customers, at a time when people are connecting with each other through technology." It has been said.

Significant growth in the Chinese smartphone market has been the main reason for Apple's increase in profits. There, Apple Watch and iPhone 12 devices have become more popular among consumers. Microsoft has also grown significantly in recent years.

Microsoft's sales grew 47% year-on-year to $ 16.5 billion in profits. Microsoft's cloud - based storage services have also been able to generate significant profits during this period, as well as personal computers, as well as Xbox video game consoles as well as its Windows operating systems. However, as the epidemic has multiplied the profits of leading technology companies, millions of their employees have lost their jobs, according to foreign media. It has also been suggested that these large corporations will continue to monopolize the technology world by acquiring other loss-making small technology companies. Politicians and regulators in the United States as well as in the United Kingdom have taken steps to address the situation.

Among them is the Competitiveness and Market Authority, the regulator against the US monopoly, which has already set up a digital market unit to investigate the activities of technology companies. Also, the US government has already taken steps to prevent such monopolies from being created by such large technology companies. There, US President Joe Biden recently signed an executive order that would further increase competition within technology companies in the country and prevent them from buying their competitors to big companies.