The Dow Jones (DJIA) is set to open Friday’s trading session in the green following encouraging earnings reports from Amazon (AMZN) and Apple (AAPL).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Amazon, which accounts for 3.26% of the index, is up by over 10% after the e-commerce retailer reported third-quarter revenue of $180.17 billion, topping the analyst estimate of $177.8 billion. Its adjusted EPS of $1.95 also came in above the estimate of $1.57 by a wide margin. For the cherry on top, cloud revenue grew by 20.2% year-over-year to $33 billion, marking the fastest pace since 2022.
AAPL Stock Rebounds as Cook Projects Record Holiday Quarter
Apple’s earnings were less impressive, with AAPL stock initially sinking following the report. However, CEO Tim Cook sent shares roaring higher after expressing optimism for fourth-quarter iPhone sales.
“We expect total company revenue to grow by 10% to 12% year over year, we expect iPhone revenue to grow double digits, year over year, and we expect that that would make the December quarter the best ever in the history of the company,” said Cook.
Apple, which accounts for 3.58% of the Dow Jones, reported revenue of $102.47 billion and an adjusted EPS of $1.85. Analysts were expecting $102.24 billion and $1.77, respectively.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.