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Kigali, RW
November 27, 2022
Tech

Even tech giants finding it hard to escape global economic slowdown

Growth is sputtering across the technology world, and even usually invincible companies like Apple Inc. and Amazon.com Inc. can’t escape the slowdown.

With many of the biggest tech giants poised to report earnings in the next two weeks, investors are bracing for mostly bad news. Amazon is expected to grow at its slowest rate in decades. Chipmakers are lurching from boom times to a potential glut. And gig-economy companies such as Uber Technologies Inc. and DoorDash Inc. could be victims of consumer budget-cutting during a shaky economy.

Then there’s the pullback in online advertising — a shift that already ravaged sales of Snap Inc. and Twitter Inc. last week and is poised to weigh on results from Facebook parent Meta Platforms Inc. on Wednesday.

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