Diamonds and Dogs

8/4/23

Amazon (AMZN) is jumping 11% after an easy beat thanks to an upturn for e-commerce and cost cutting. Cloud business also improved. One analyst believes the business could accelerate and provide topline growth heading into the new year.

Not often Apple (AAPL) is a dog. Apple is down nearly 3% as revenue fell for a third straight quarter. The current quarter will be weak as well as Apple is experiencing an industrywide slump that has sapped demand for phones, computers and tablets. Services revenue was a clear highlight, climbing 8.2% to $21.2 billion.

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