It's never a dull day for Big Tech and the Eid break was no different. First up is Apple (AAPL)… the Cupertino based giant has stated that the re-emergence of Covid-19 in China could threaten and hinder sales to the tune of $8b in the current quarter. The setback comes after it was seeing slight improvements to the supply chain during the first three months of 2022. The guidance from the iPhone maker came Thursday shortly after the company posted one of the best quarters in its 46-year history. Apple’s revenue for the recent period rose 9% to $97.3b, far exceeding analyst expectations for $94b. Earnings per share rose to $1.52 from $1.40 a year earlier. 

It also wasn't the greatest of Eid breaks for Amazon (AMZN) as it announced its first loss since 2015 on Thursday as sales slowed, costs rose, and its investment in electric vehicle company Rivian (RIVN) wiped out profits. Amazon owns close to 20% of the company and lost $7.6b after shares in the electric vehicle collapsed. The tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4b, Amazon’s slowest growth rate in nearly two decades. It lost $3.8b for the quarter compared with a profit of $8.1b during the same period a year ago.