Amazon rises as Apple falls after earnings
A recent financial report revealed that the earnings of both Amazon and Apple were mixed for the quarter ending in June. Amazon’s results sparked great optimism, leading to a 12% increase in its stock during pre-market trading, supported by a 37% growth in its cloud computing division, AWS, the fastest pace since 2021. The company is also expected to spend up to $220 billion on capital investments in artificial intelligence. Conversely, Apple’s shares fell by 7% after its performance disappointed market expectations, despite profits and revenues exceeding forecasts. The company anticipates revenue growth between 9% and 11% in the current quarter, amid a severe shortage of memory chips and supply chain challenges, leading to higher prices for Mac and iPad devices, and possibly iPhone models later on. Meanwhile, markets differentiate between companies making strong gains in AI, with convincing performances, and those facing difficulties. For example, Meta’s stock dropped 8%, while Microsoft’s soared by 15%.
Notice: This Is an AI-Generated Summary
Comments (0)