Apple's Cautiously Navigating Through No Man's Land Amid A Maturing Smartphone Market And Upcoming AI Innovations
Portfolio Pulse from Upwallstreet
Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) reported their fiscal third quarter earnings. Apple's sales fell 1% YoY despite service revenue growing 8% YoY, and shares fell 2% due to lack of guidance after a third consecutive quarter of declining sales. Amazon shares surged more than 7% after hours due to strong outlook fueled by its biggest yet Prime Day event. Apple's sales in China grew 8% YoY, outperforming the weakest smartphone market in the country in almost a decade.
August 04, 2023 | 3:22 pm
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POSITIVE IMPACT
Amazon's shares surged more than 7% after hours due to strong outlook fueled by its biggest yet Prime Day event.
Amazon's strong outlook and successful Prime Day event could increase investor confidence, leading to a potential increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Apple's Q3 earnings report shows declining sales and lack of guidance, causing shares to fall 2%. However, sales in China grew 8% YoY.
Apple's declining sales and lack of guidance for the future could negatively impact investor confidence, leading to a potential decrease in stock price. However, the growth in sales in China could offset some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100