Consumer Tech News (June 23–June 27): Inflation Stirs, Trade Tensions Flare, And Big Tech Makes Big Moves

This week told a familiar story with fresh twists—inflation isn't backing down, and global tensions are once again steering the market mood.

The latest data showed that the Personal Consumption Expenditures, or PCE price index, rose 2.3% in May from a year earlier, slightly up from April’s 2.2%, snapping a two-month cooling trend.

While the monthly increase stayed steady at 0.1%, concerns grew that rising tariffs on foreign goods could soon hit U.S. consumers harder.

The economic unease was only amplified on Friday, when President Donald Trump abruptly called off all trade talks with Canada.

Also Read: Canada Risks Losing $8.7B Annually Without Critical Minerals Action

His move came in response to Canada’s newly introduced Digital Services Tax, which he slammed as a direct attack on American tech companies. Declaring retaliation was imminent, Trump promised to announce new tariffs on Canadian goods within a week—sending markets tumbling and investors rushing for cover.

Amid the macroeconomic jitters and geopolitical headlines, several companies delivered key corporate updates and earnings results that kept investors tuned in.

Earnings Results

FactSet Research Systems Inc. FDS reported quarterly sales of $585.52 million, surpassing analyst expectations of $580.50 million and representing a 5.9% year-over-year gain.

FactSet announced that Phil Snow will retire as CEO and a member of the Board, effective early September 2025.

Technology

NVIDIA Corporation NVDA leaped over Microsoft Corporation MSFT to become the most valuable company in the world on Thursday, with a market capitalization crossing $3.7 trillion. But as the chipmaker solidifies its position as the foundation of the AI era, one segment of Wall Street is somewhat lagging behind — semiconductor ETFs.

Microsoft postponed the commercialization of its in-house next-gen artificial intelligence chip, Maia (code-named Braga), by at least six months from 2025 to 2026 due to unexpected changes to its design and staffing constraints.

Alphabet Inc. GOOG GOOGL has been dealt a legal blow in Japan as a court has ruled that the company infringed on patents held by Pantech, resulting in a ban on the sale of its Pixel 7 series smartphones.

Alphabet Inc. has appointed Kobi Bar-Nathan as the new finance chief for its rapidly expanding Google Cloud division. He commenced his role in June 2025, bringing extensive experience from key finance leadership positions at Oracle Cloud and Microsoft Cloud.

Apple Inc. AAPL is making a return to high-budget theatrical releases with the opening of its racing drama “F1” on Friday. The film’s reported $300 million budget highlights both the company’s determination to make a mark in Hollywood and the persistent financial challenges it faces in this arena.

Artificial Intelligence (AI)

Softbank Group Corp SFTBY CEO Masayoshi Son said that he plans to position the company as the leading platform provider in the artificial super intelligence (ASI) sector within the next decade, aiming to rival major tech firms like Microsoft Corp., Amazon.com, Inc. AMZN and Alphabet Inc.’s Google.

Apple’s Siri is far behind OpenAI’s ChatGPT, according to a comparison conducted by Deepwater Asset Management, receiving an “F” while ChatGPT has scored an “A.”

Automobiles

Tesla, Inc. TSLA has revealed that it pumped nearly $10 billion into its U.S. operations during the last fiscal year and plans to allocate an additional $8 billion this year.

Ford Motor Company F: CEO Jim Farley voiced skepticism about Tesla’s autonomous driving strategy, underscoring the necessity of consumer trust and prudence.

Xiaomi Corp. XIACY unveiled the company’s first all-electric SUV, the YU7, as a rival to Tesla.

General Motors Company GM has issued a recall for over 62,468 vehicles in the U.S. over a brake pressure sensor issue.

Read Next: