News Summary

Tech giants Meta, Microsoft, Apple, and Amazon recently reported their quarterly earnings, all surpassing Wall Street expectations. However, the impact of tariffs imposed by the Trump administration has created uncertainty, particularly for companies like Apple that ship physical products. The tariffs are expected to cost Apple $900 million in the upcoming quarter, despite the company’s efforts to mitigate the impact by importing products in advance from India. Meanwhile, the labor market faces disruption from AI, with companies like Duolingo shifting towards AI-driven processes, reducing reliance on human contractors. In Denmark, research indicates that AI chatbots have not significantly affected earnings or hours worked in various occupations, suggesting AI’s role as a productivity tool rather than a job eliminator. Meta is also expanding its AI presence through its platforms, although concerns about privacy and data usage persist.