Amazon Soars as Cloud Revenue Surge Allays Fears over Ballooning AI Bets
Amazon’s profit more than tripled as cloud growth eased concerns that heavy AI spending will hurt returns, while Apple fell 7.4%, analysts said.
- On Monday, the Australian sharemarket is set to open lower, with futures pointing to an 85-point loss, or 1 per cent, at the open.
- US stocks finished a wild July on Friday with gains, yet rising oil prices continue to worsen worries about inflation staying high.
- Amazon leaped 15.3 per cent and Samsung Electronics surged at least 26.8 per cent on Friday, while Apple shares declined 7.4 per cent despite beating profit expectations.
- Federal Reserve Chairman Kevin Warsh promised on Wednesday to return inflation to 2 per cent but refused to outline how he plans to achieve that target.
- Yields on the 10-year Treasury rose to 4.71 per cent late Thursday, pushing average long-term US mortgage rates to their highest level in a year.
26 Articles
26 Articles
Watch AWS CEO Says AI Business Is 'Just Massive'
Amazon Web Services CEO Matt Garman says the potential artificial intelligence business is "just massive." He says the company will keep investing in capital expenditures as it tries to keep up with demand. He speaks to Ed Ludlow on "Bloomberg Tech."
Sydney Morning Herald
ASX edges higher as iron ore tumbles
Australia’s sharemarket closed in the green, helped by strong performances from utilities, industrials and healthcare stocks.
Apple Made Billions, Yet Its AI Stock Fell Nearly 8% While Amazon Soared 11%
Apple just delivered one of its best quarters ever. Investors wiped out almost 8% of its stock value anyway. A day earlier, Amazon posted a smaller earnings beat than Apple. Its stock still jumped more than 11%, purely on cloud growth. Here’s why the market chose Amazon’s growth story over Apple’s profit. And here’s what that split reveals about how AI stocks get valued now. Apple’s Numbers Were Great. Investors Didn’t Care The July 31 session d…
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
