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The end of January is reserved for learning how tech and e-commerce companies did during the holiday season. More precisely, all FAAMG stock, namely
Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL),
Apple Inc (NASDAQ: AAPL),
Facebook, Inc. (NASDAQ: FB),
Amazon.com, Inc. (NASDAQ: AMZN), and
Microsoft Corporation (NASDAQ: MSFT), have now shown just how much they crushed the holiday season.
Amazon s Blockbuster Quarter
Amazon has beaten the revenue expectations for the past consequent seven quarters, pushed by COVID-19 driven e-commerce and cloud business. The previous two quarters had the most impressive realization in revenues compared to the expectations and this time around, Amazon delivered its largest quarter by revenue of all time, generating $125.56 billion in sales. Since the amount of US online purchases grew 32% to $188 billion during this record-breaking holiday season, no wonder Amazon had its first $100 billion quarter, with revenue increasing 44% from last
Jack Ma s first public appearance in months helps Alibaba’s valuation soar $58 billion
Ma’s last public appearance before this was in October 2020, when he criticised China s regulatory system and state-run banks.
File image: Jack Ma
Jack Ma s video message to a group of teachers, his first public appearance in months, led to a $58-billion relief for Alibaba s investors.
To put this in perspective, this is around 2 percent of the total market capitalisation of Indian companies listed on the BSE on January 20. January 20,2021, closing market capitalization of all BSE listed equities Rs 197,70,572 crore. At Rs 73.03 per USD, Indian market capitalization topped USD 2.7 trillion first time ever, BSE CEO Ashish Chauhan said in a tweet.
Image Credit: Qingqing Chen/Twitter
After speculations that co-founder of Alibaba and Ant Group Jack Ma “disappeared”, the Chinese entrepreneur has resurfaced. According to a Bloomberg report, Ma “addressed village teachers via a livestream Wednesday during an annual event he hosts to recognize rural educators”. A video of Ma was circulated online in which he reportedly said that he will spend more time on philanthropy. The authenticity of the video was later confirmed in an email by Ant Group. Also Read - Founder Jack Ma warns of risks for Alibaba after huge success in 2014
Notably, Ma did not make a public appearance since October 24 and it was speculated that Ma’s comments at a TV show angered the Chinese government. The stocks of Alibaba gained four percent in Hong Kong as Ma reappeared. To recall, Ma made a speech criticising China’s regulators and its state-owned banks in a show titled ‘Africa Business Heroes’, where he was a judge.
„In China lebt man mit einer gewissen Machtfülle gefährlich wiwo.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wiwo.de Daily Mail and Mail on Sunday newspapers.
April 16, 2021 last updated 13:2 ET Russian President Vladimir Putin, center right, and Chinese leader Xi Jinping, center left, enter a hall for talks, in the Kremlin, Moscow, Russia, June 5, 2019 (AP photo by Alexander Zemlianichenko).
Jack Ma’s Disappearance and the Dangers of Doing Business in an Autocracy
The last time China’s most famous billionaire, Jack Ma, was seen in public was October. It was an appearance that did not please the regime in Beijing. The founder of e-commerce giant Alibaba something of a Chinese Jeff Bezos may have grown too confident and too powerful for the Chinese Communist Party, which may have decided it was time to not just silence him and limit his power, but to send a message to other potential critics with wealth and influence.