Meanwhile, Amazon revenue came in at $167.7 billion and that beat estimates of $162.1 billion with AWS revenue seen up over 17% compared to the same quarter last year.
As mentioned yesterday, we have to go deeper than the numbers. Apple's earnings call wasn't the most exciting with it being mostly about CEO Tim Cook having to try and convince that they will be a competitive player in the AI space. The growth in services revenue will at least ease concerns but tariffs impact is still notable.
Apple stocks have struggled this year and the latest earnings report will not do much to change that outlook I feel.
That being said, CEO Andy Jassy tried to defend their position in saying that:
It's not a popular opinion as many other firms have already noted on the need to hike prices due to tariffs. We'll see in time if there will be a more material impact to Amazon. But for now, investors are thinking that it likely should have at least some impact.
Apple and Amazon don't quite have as big a buffer on the AI front to play with. And as a result, they can't look to that to overshadow the impact from tariffs as opposed to their peers.
This article was written by Justin Low at investinglive.com.Hence then, the article about apple and amazon earnings underscore tariff concerns more than anything else was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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