Balance sheets: Amazon stock jumps 11%, Apple stock falls

A Amazon’s very positive balance boosted its shares by 11%, which leads Wall Street this Friday. In contrast, another Nasdaq giant, a technology company Apple fell 4.7%because his results were not satisfactory.

The market capitalization of the leading e-commerce company grows to $1.45 trillion, while the creator of the iPhone brings in $2.9 trillion. It should be remembered that the shares of both companies can be traded in pesos or dollars on the Argentine Stock Exchange, through Cedear (Argentine Certificates of Deposit) AMZN and AAPL.

Amazon reported a profit of $9,922 million in the first half, compared to $5,872 million in the same period the previous year.

The e-commerce giant’s June sales rose 10% to $261,741 million. Thus, the firm’s sales in North America amounted to US$159,427 million, up nearly 10%, while international sales reached US$58,820 million, up 5.3%.

For its part, Amazon Web Services (AWS) turnover reached $43,494 million, representing an increase of nearly 14% from $38,180 million.

Amazon CEO, Andy Jassiwas pleased with the results achieved during this period. “It was another solid quarter for Amazon,” he reiterated, noting the growth of AWS, which has stabilized but maintained its “cloud lead” thanks to AI launches.

The American multinational is optimistic about the third quarter of the year, when it expects its sales to grow by 9-13% and its operating income will be between $5,500 million and $8,500 million.

“There was some positive data reported by the giant e-commerceHowever, among the most relevant, we can note an increase in revenue of 11% compared to the same quarter in 2022, thus resuming double-digit growth. In addition, we should note that the three main segments – Amazon Web Services, the US and the international market – showed growth of more than 10% compared to June last year, ”he said. Damian Vlassicsenior equity analyst at IOL InvertirOnline.

“What Amazon said was positive, not only because of the performance it achieved in the second quarter, but also mainly because of the forward forecast, according to which revenue and profit growth is expected to continue,” Vlassic said.

Also Apple presented its balance sheet, although it did not exceed market expectations, with iPhone sales declining, and yet the performance of the flagship device in China helped the company weather the global downturn in the smartphone market.

The Cupertino, California-based company reported that sales for the fiscal third quarter ended July 1 fell 1.4% to $81.8 billion, while earnings per share increased 5% to $1.26 billion, up than the $81.69 billion and $1.19 per share that analysts had predicted. expected, according to refinitive.

Apple CEO, Tim Cooksaid in an interview that the rise in R&D spending was partly driven by generative artificial intelligence, the same area that is driving investment from other big tech companies.

Apple is in a difficult position. His iPhone takes on Android rivals in a mature market and its next big product is a mixed reality headset VisionPro announced in June – not yet in the hands of consumers.

“Aside from some positive data, we can’t help but mention that Apple is going through a period of slowdown as it has reported falling revenue for three consecutive quarters. Looking to the future, it will be important for the Cupertino-based company to be able to resume a solid path of increasing its earnings as, despite the unfavorable economic context, it is starting to show dissociation towards the direction reported by major tech companies such as Google, Meta or Amazon. Damian Vlassicfrom IOL.

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