CUPERTINO / SEATTLE / LONDON (IT BOLTWISE) – Apple and Amazon posted impressive results in the most recent quarter, exceeding analysts’ expectations. While Apple benefited from demand for the new iPhone 17, Amazon saw strong growth in retail and cloud computing.
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Apple posted record sales last quarter, driven by strong demand for the new iPhone 17 and continued growth in its services business. For the Christmas quarter, the company expects sales growth of 10 to 12 percent, which significantly exceeds previous analyst estimates of 6 percent. Despite the positive development, iPhone sales fell slightly short of expectations at $49 billion, due to supply bottlenecks for several models.
Amazon also posted impressive results. The e-commerce giant reported a 13 percent increase in third-quarter revenue to $180 billion, although analysts had expected slightly less. Net profit rose 39 percent to $21.2 billion. Growth was particularly strong in cloud computing, where Amazon Web Services revenue rose 20 percent to $33 billion.
The financial markets reacted positively to the two tech giants’ strong quarterly figures. In Japan, the Nikkei 225 rose 2.1 percent, supported by the lower yen exchange rate. In China, however, weak industrial data weighed on the markets. Chinese industrial sentiment fell in October, while the situation in the services sector improved.
Apple and Amazon’s results underscore the continued strength of the tech industry, despite global economic uncertainty. Both companies benefit from their strategic investments in new technologies and services that help them compete in a competitive market environment. Expectations for the coming quarter are high, especially in view of the lucrative Christmas business.
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