But still a profit. Just not as much of profit as last year.
We are making money, but not as much money as I want. SMITHERS! Fire people randomly until I feel better about only making a few billion, instead of a hundred billion.
this post was submitted on 11 Oct 2023
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The entire economy is about companies making higher and higher profits, and if they don't, economists worry it's a stagnation. Lol. We really are quite fucked.
I agree that the hamster wheel of infinitely increasing profits is bad. But even in a better world where companies weren’t expected to report record profits every single quarter, an 80% drop would still be rather alarming.
You can see how this would happen. Everyone bought new computers to wfh during the pan. Now they’re holding on to devices that aren’t due for upgrades / replacement. Apple seems to be the only hardware company in the sector that isn’t hurt by this and that’s because they’re shipping new macs that are best-in-class to an audience that typically can afford (or will sacrifice to afford) nice upgrades.
I think the main reason though is that the main CPU and GPU designers (AMD, Nvidia and now even Intel) are preferring TSMC because chips produced by them are usually just better and Exynos turned out to be a failure.
There is simply less need for more compute power for the average user. Even additinal.festures like screen size and resolution or video and photo quality are harder and harder to show actual differences. So people hold onto devices for longer and longer.
Apple has also been seeing massive cool down in PC sales over 2023.
Their 2021-2022 sales numbers were primarily driven by the shift from Intel to Apple Silicon. People gobbled up those machines.
It's almost like the system they judge by doesn't actually work at scale. 🤔
What a great time for governments to be pumping taxpayer money into new chip factories!
Did Samsung even get any of that money? You can shit on corporate subsidies all you want but these are good paying jobs for the folks who work at these plants here in the US.
Are you as upset about farm subsidies? Honest question.
Of course. For one thing, they are a blight on third world countries, who are often dependent on agriculture. Rich countries subsidizing their own farmers directly harms economic development in poorer countries that have fewer resources with which to respond. The subsidies also lead to overproduction in rich countries, and thus needless environmental destruction.