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Netflix reported its quarter results earlier this week, and showed that despite what people may think, it still has much room to grow. Indeed, streaming accounted for only 27% of total TV screen time in June 2021, as cable still dominates in the US. Netflix is the first streaming service with 7% of total TV screen time, ahead of YouTube (6%) and Hulu (3%). Considering the fact that the adoption rate is even lower in developing countries, Netflix is confident that is had plenty of room to keep growing. Source: Statista, Nielsen report

Amazon leaves no room for competition, it's just that much better than the rest of them. With revenue growth continuing, Amazon is expected to increase its share of total e-commerce sales in the U.S. to 41.4% in 2021, up from 39.1% in 2020. eMarketer forecasts that Walmart will capture a 7.2% share in 2021, while the No. 3 player, eBay Inc., is expected to capture 4.3%. According to eMarketer, online sales per buyer in the U.S. are expected to reach $5,458 in 2023, up nearly 26% from $4,335 in 2021. Source: S&P Global

Verizon managed to top earnings expectations as promotions helped drive the 5G upgrade. Shares of the stock gained 0.7% on Wednesday following the results, as the company showed a record high in their number of new accounts subscribing to the unlimited plan. “Device upgrades, which were significantly higher compared to both second-quarter 2020 and 2019, drove 5G adoption and step-ups to premium unlimited plans, a strong indicator that our strategy is working,” said the CFO of the company. Source: MarketWatch

Google and Mukesh Ambani’s Jio are hoping to crack one of the world’s largest untapped smartphone markets, launching a device they hope will be cheap enough to convert 450m Indians on “dumb” handsets into smartphone users. The JioPhone Next, a successor to Ambani’s earlier-generation JioPhone, has been designed by the companies to run a custom version of Android. It will offer a blend of Google and Jio apps, with voice assistance in multiple Indian languages for users with limited literacy. Analysts believe it will be marketed at under $50. Source: Financial Times

Nvidia sold hundreds of millions of dollars worth of chips to cryptocurrency miners, but the 3% slide of Bitcoin and Ethereum in 24 hours is directly impacting the stock price. Nvidia shares retreated 2.5% to $183.24 on Tuesday, following the four-for-one stock split on Monday. Source: Barron's