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plummeting

An Apple exec suggested AI chatbots were eroding Google’s search business, sending Alphabet shares plummeting. The truth is more complicated.

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Apple executive Eddy Cue rocked Alphabet shares earlier this week when, testifying during the U.S. antitrust case against Alphabet, he said that the volume of Google searches on Apple’s Safari web browser had declined for the first time in more than two decades. Cue attributed that declining volume to people using new AI-driven tools to … Read more

Netflix latest earnings and surprisingly stable outlook defies the souring economy and plummeting consumer confidence

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Netflix’s stock rose more than 4% in after-market trading on Thursday after the entertainment giant’s first-quarter earnings results surpassed Wall Street expectations and the company reiterated its positive business forecasts despite historically low U.S. consumer confidence. In its earnings release on Thursday, the company said “our revenue and profit growth outlook remains solid, with no … Read more

Olive Garden parent company shrugs off concerns of plummeting consumer confidence because restaurant goers continue ‘to treat themselves and splurge’

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How does a restaurant conglomerate that relies on customers’ discretionary income earn a minor stock rally during a period of declining consumer confidence? By showing Wall Street that while consumers might be worried, they’re still hungry.  Darden Restaurants, the parent company of popular chains like Olive Garden and Longhorn’s Steakhouse, saw its stock pop as … Read more

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