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Market Reaction: Amazon Gains Apple Falls
Apple's second-quarter earnings results showed that iPhone sales and revenues exceeded market expectations. However, the company issued weaker guidance for the current quarter due to supply chain constraints and shortages of key components like memory, with revenue growth forecasted to be between 9% and 11% below forecasts. Conversely, Amazon experienced a strong increase in cloud computing services revenue, rising 37% year-over-year — the strongest growth since 2021 — as the company continues substantial investments in AI infrastructure despite capital expenditures reaching $220 billion for the year. Investors reacted differently to the results of the two companies, with Apple's stock declining by 9% and Amazon's stock rising by 14%.
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