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Apple revenue grows slightly, Amazon beats expectations 🙃
The SPX fell as much as 0.8% before rebounding to end flat in preparation for earnings results from Apple and Amazon to be released after the close. Apple's revenue increased slightly, but weak iPhone sales disappointed the market. Management forecast that fourth-quarter performance will continue the decline in the third quarter. Due to severe year-on-year base effects, Mac and iPad sales are expected to see double-digit declines. In addition, Tim Cook did not mention any new products about generative AI. Due to the steady growth of AWS, Amazon exceeded market expectations in terms of revenue, profit and third-quarter forecast, driving its stock price to rise 10% after the market; although online sales performed well this year, management mentioned that high inflation will continue to There's pressure from consumers, who are seeing a "downward trend" in brand choice as they become more price-sensitive.
