Tech doom or tech boom? Despite experiencing nearly 200,000 layoffs in 2023, the tech sector is proving surprisingly resilient in the face of a wobbly economy, as recent earnings reports have shown. Apple and Microsoft are jousting for market cap supremacy in the $2 trillion-plus range, and Amazon shares are up 30% so far this year.
That could threaten plans by Hollywood studios to get their streaming operations to profitability, and soon, as cash-rich tech companies continue to pour money into entertainment and gaming to lock in consumer loyalty. There’s no end, in short, to the high-stakes competition among media companies vying for a shrinking pool of available subscription dollars.