Apple Isn’t Growing, but That’s OK (for Now)

We got a barrage of March-quarter earnings today and they provide a good summary of who’s up and who’s down in tech and media. (Spoiler alert: Apple did fine, but given how weak the smartphone and PC markets are, that’s not saying much). For more details, grab a coffee (or a beer) and relax. Here we go:

In ride hailing, Lyft is barely growing and is still burning cash, which means it’s doing much worse than its bigger rival, Uber, which reported on Tuesday. Lyft stock dropped 15% after hours. In food delivery, DoorDash appears to be growing much faster than its main rival, Uber Eats. In entertainment, Paramount Global’s quarter captured perfectly why investors hate TV companies. Growing losses on streaming collided with declining profits from TV, sending Paramount stock down 28%. In e-commerce, Shopify apparently realized its desire to build an Amazon-like logistics operation was nuts, as it decided to sell the business to Flexport in exchange for some of the startup’s stock. Investors approved: Its stock jumped 24%. (For more details and other earnings highlights, see below.)