Amazon climbs as Apple falls on earnings
Amazon's shares rose by 14% after announcing its second-quarter results, with revenues from its cloud computing division (AWS) growing by 37% year-over-year, marking its strongest performance since 2021. The company continues to invest in artificial intelligence infrastructure despite expectations that capital expenditures will increase to $220 billion. Conversely, Apple’s shares declined by 9% after reporting earnings that exceeded expectations. However, the report pointed to supply chain restrictions and projected revenue growth of between 9% and 11%, which is below market expectations, with an anticipated rise in the prices of its products throughout the year.
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