Tech & Internet
ETtech Explainer: Inside India's iPhone dreams — The story so far
Amidst Trump's tariffs impacting China, Apple is increasing iPhone manufacturing in India, leveraging Foxconn and Tata Electronics. While a complete US shift is unlikely due to cost, India's iPhone exports surged in FY25. Meanwhile, potential delays from China in allowing production to move out complicate Apple's diversification push.
Cognizant reports 21.4% rise in net profit; gives a flat guidance
Cognizant's Q1 net profit surged 21.4% YoY to $663 million, fueled by margin growth from a land sale and a weaker base. Revenue rose 7.5% to $5.12 billion, driven by health sciences, financial services, and acquisitions like Thirdera and Belcan. The company anticipates flat revenue growth for Q2 due to constrained demand, while pursuing mega deals exceeding $500 million.
Microsoft puts brakes on AI spending as profit increases 18%
Microsoft’s Q1 2025 results showed strong growth with $70.1 billion revenue and $25.8 billion profit, driven by 33% Azure growth and AI services. Capital spending fell slightly to $21.4 billion but remains high, with $85 billion forecast for the year. CEO Nadella cited efficiency and strong cloud demand.
Meta, Microsoft reports lift AI-related stocks
Following strong earnings reports from Meta and Microsoft, shares in AI and cloud computing companies surged on Wednesday. Microsoft's shares jumped over 6% due to strong Azure cloud growth, while Meta's rose more than 4% as AI-powered tools boosted advertising revenue. Nvidia increased 2.8%, Advanced Micro Devices increased 2%, and Amazon increased 3%
Transforming India
Tesla board opened search for a CEO to succeed Elon Musk
Tesla’s board began searching for a new CEO about a month ago due to concerns over Elon Musk’s focus on his government role and Tesla’s falling profits. It’s unclear if Musk knows about the search or if his recent pledge to spend more time at Tesla affects the plans.
Meta quarterly profit climbs despite big cloud spending
Meta reported a strong quarter with $16.6 billion profit and $42.3 billion revenue, beating expectations. Advertising remained robust despite economic uncertainties. CEO Mark Zuckerberg highlighted progress in AI, including nearly one billion Meta AI users and a new AI assistant app. Meta faces US antitrust scrutiny and rising AI competition.
US judge rules Apple violated order to reform App Store
A US judge ruled Apple violated a court order to allow more competition in its App Store, following Epic Games’ antitrust case. Apple imposed new fees and discouraged external payments. The judge referred Apple to federal prosecutors for criminal contempt, stating the company deliberately ignored the injunction to stifle competition.
Microsoft forecasts strong growth for Azure cloud business, shares surge 7%
Microsoft reported a 33% rise in Azure cloud revenue for Q3 2025, surpassing estimates and driven partly by AI, which contributed 16 percentage points to growth. The company forecasted 34-35% cloud revenue growth for Q4, easing concerns about AI demand slowdown and tariff impacts. Shares rose 7% after hours.
India, Pakistan hackers trade codes & command in digital firefight
Rising tensions between India and Pakistan since last week’s Pahalgam terror attack have spilled over into cyberspace, with multiple groups on either side engaging in hacking and cyberattacks. Indian officials said they have thwarted multiple attacks from Pakistan over the last few days.
AI is about enabling pros to do more with their time: Nvidia's Kerris
Richard Kerris, Vice President - Media & Entertainment, Nvidia, said that filmmakers and production houses are already seeing cost benefits in complex tasks like creating smoke, fire, or explosions, once requiring entire teams, can now be done more quickly using AI-powered tools.
