Beijing time on April 1, the morning of the news, according tomedia reports, Microsoft and Amazon shares in the first quarter of this year closed the earnings, and by the impact of COVID-19, technology stocks generally suffered a sell-off. Microsoft’s shares have risen 0.0006 percent in the past three months, according to FactSet, while Amazon’s shares are up 5.43 percent in the market’s worst first quarter ever. However, historic market volatility has left their tech peers in a loss-making position for the past three months. Last quarter, Apple’s shares closed down 13.4 percent and Alphabet’s 13.25 percent.
Companies have been warning last quarter that a pandemic of the new coronavirus could have a fatal impact on business. Microsoft said last month that it expected quarterly revenue from its business units, including Windows, to meet its targets because of supply chain disruptions caused by the outbreak of the new coronavirus, but said demand was strong. Microsoft has also benefited from the extensive use of cloud services.
At the same time, Amazon is experiencing high demand for shopping, with large numbers of shoppers looking for emergency supplies, including hand sanitizer. In addition, companies such as Slack and Zoom, which are demanding Amazon’s web services, are also in high demand, and rely ingly on Amazon’s infrastructure.
Investors continue to focus on the worsening global pandemic of COVID-19. As of Tuesday, there were more than 177,000 confirmed cases and at least 3,440 deaths in the United States, according to Johns Hopkins University. (Ei)