Happy Halloween! This week, Apple is our top tech of the week for its record profits in 2021 and Facebook is once again our tech flop for changing its name after years of scandals.
Top tech of the week: Apple having the best year in its history
Apple lost $ 6 billion in revenue due to the chip shortage between July and September 2021, but that didn’t stop the company from having the best year ever, with a net profit of $ 20.55 billion. dollars in the last quarter of the fiscal year, which ended in September.
In a press release, Apple said the company’s revenue during the period was a record high, reaching $ 83.36 billion, an increase of 28.8% from the same period. in 2020. According to the company, the result was achieved through revenue from the sale of products such as the iPhone, which generated revenues of $ 38.86 billion, up from $ 26.44 billion. dollars recorded last year.
Apple does not disclose unit sales of its devices, but Wall Street Journal analysts estimate that Apple sold a record 238 million iPhones in the last fiscal year. For fiscal 2021 (ending September 2022), that number is expected to be 233 million.
Tech flop of the week: Facebook Inc. which becomes Meta
Used to having this title, the parent company of apps like Facebook, Instagram and WhatsApp changed its name this week. The company now bears the name Meta.
After seeing Facebook entangled in yet another scandal revealing how the social network facilitates the dissemination of fake news and endangers the mental health of adolescents, Facebook CEO Mark Zuckerberg announced the news last Thursday (October 28) during the Facebook Connect 2021. The parent company Facebook Inc. was renamed Meta, which establishes a clear distinction with the social network Facebook.
“Meta” comes from “Metaverse”, a concept of virtual universe (3D) with several levels of immersion in which social connections are possible. This is the company’s bet for the future of the internet. And, according to Mr. Zuckerberg, the name Facebook would limit the understanding of this virtual universe to the social network Facebook.
However, despite the somewhat complex rationale, the goal behind this decision is a bit simpler: to change the image of the company, constantly associated with scandals in recent years. The problem is not with the name of the company, but with decisions based on profit and not on the safety of those who use the services of the now called Meta.
Mark Zuckerberg and other Meta shareholders might even want to direct our attention to a virtual universe based on virtual and augmented reality products and software like Oculus Quest, but it won’t be so easy to erase the consequences of Cambridge Analytica. or algorithms that boost fake information on Facebook. The evil is already done!