00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Amazon and Apple moved sharply in opposite directions after reporting June quarter results,
00:07with Amazon shares jumping 12% in Friday's pre-market trading and Apple falling 7%,
00:12according to CNBC. Apple beat expectations for earnings, revenue, and iPhone sales,
00:19but issued weaker-than-expected revenue growth guidance for the current quarter,
00:23citing supply constraints tied to memory shortages and chip manufacturing capacity.
00:27Amazon reported 37% year-over-year growth in AWS revenue,
00:32its fastest cloud expansion since 2021,
00:35and raised its annual capital spending forecast to $220 billion from $200 billion.
00:42Investors viewed AWS growth as evidence that Amazon's AI infrastructure investments are matching demand.
00:48For all things money, visit Benzinga.com.
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