Tech giants affected but not sunk by the crisis

It would be wrong to say that the American tech giants are immune to the shocks of the global economy. But with the notable exception of Meta, they are showing good resistance. The markets, during the publication of the quarterly results of these groups, were reassured by seeing that Microsoft, Google, Apple or Amazon remained efficient in their core businesses: the cloud, advertising on search engines or the sale of ‘iPhone. Microsoft even goes so far as to predict bold double-digit growth for the current fiscal year. The Gafams, however, have to deal with cross-difficulties: consumers and advertisers who are more cautious in their spending, a sharp rise in the dollar which is reducing international revenues and a certain return to normal after the explosion of digital uses at most top of the Covid-19 pandemic.

Amazon illustrates these headwinds with a 5% decline in online sales, to $51 billion…