Last week Microsoft, Amazon, Google and Microsoft all announced last quarter earning’s that beat Wall Street’s expectations and had record earnings. Intel also saw 2% growth even though demand for PC’s was flat. Even Twitter saw their stock rebound even though they lost subscribers.
When I read these earning reports I got an image of Alfred E. Newman of Mad Magazine saying “What, Me Worry?” as these companies just keep plugging along and quarter after quarter show strong demand for their products and services and prove the naysayers wrong on a consistent basis. Sure, their increasing power is coming under all types of scrutiny from governments and consumer watchdogs, but I can’t see any anti-trust violations in any of their cases since the competition between them and others in products and services is a strong as ever. Even though it could be argued that they are too big and could keep out competitors, we have case after case over the years where innovation and creativity can take what might be perceived as an also ran and move them to the front quickly.