The world’s most important tech companies all reported their quarterly results this past week, and, in each case, the damage from a slowing global economy was in stark evidence. The witch’s brew of rising interest rates, higher fuel costs, the Russian assault on Ukraine, lingering supply-chain issues, and the U.S. dollar’s surge is infecting every tech business. “We’ll all go together when we go,” as the great Tom Lehrer once sang. Financial calamity is the great equalizer.
But last week’s batch of earnings reports also made clear that every item on that familiar list of economic woes will eventually recede, leaving behind individual corporate stories, some stronger than others.