Tag AAPL

Asian stock markets presented a mixed bag on Friday, with falls in China and gains in Japan and South Korea coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services...

STORY: Big Tech keeps beating forecasts, with Apple and Amazon the latest to post blockbuster numbers. :: FileApple is heading into the holiday quarter with a strong forecast, as CEO Tim Cook says demand for the iPhone 17 is driving sales and revenue expectations past Wall Street estimates.Speaking to Reuters, he predicted double-digit sales growth for the phones this quarter, and up to a 12% jump in overall revenue.That's despite ongoing supply issues and delays in shipping new models to China that hurt iPhone sales last quarter.The company made up for that with strong demand for other products including AI-powered AirPods, and profits still topped expectations.Apple shares rose 3.7% in after-hours trading on Thursday.Its latest results show that the biggest concerns investors had, like U.S.-China tensions and slow AI rollout, were less of a drag than the challenge of producing and shipping millions of devices.Cook said Apple is still working to resolve some of the supply constraints.:: FileAmazon also beat expectations. Cloud revenue there grew at its fastest pace in nearly three years, helping the e-commerce titan forecast stronger quarterly salesThat sent its shares up 14% in after-hours trading, adding some $330 billion to Amazon's value. The company says demand for AI services is surging, and it’s planning to ramp up spending next year, with capital expenditure already nearing $90 billion so far in 2025, mostly on AI projects. Strong cloud demand is helping the firm offset slower growth in its e-commerce business, which is preparing for the holiday rush amid shaky consumer confidence and global trade uncertainty...