It’s a weird time for Big Tech. Technology companies are setting revenue and profitability records yet conducting deep rounds of layoffs as they try to figure out computing’s next act. AI and mixed reality have plenty of promise, but they’re expensive to develop and no sure thing. Flagship businesses, meanwhile, don’t stop their ebbs and flows just because something cool is on the horizon. The result is flux: a mix of high hopes, euphoria and confusion.
This week, Alphabet, Amazon, Meta, Microsoft, and Apple all reported earnings, and we got a glimpse into what’s real and what’s not as we looked at their numbers. So, for the first time — and likely not the last in this murky moment — let’s look at some big tech myths and facts in February 2024.