Amazon shares surged while Apple stock fell sharply after investors reacted differently to the companies' latest quarterly earnings, according to the report.
The report said Amazon's stock climbed 12% in premarket trading after its cloud computing division, Amazon Web Services, posted 37% year-on-year revenue growth, its fastest pace since 2021.
Apple, meanwhile, reported quarterly revenue, earnings and iPhone sales above market expectations. However, according to the report, investors focused on weaker-than-expected revenue guidance for the current quarter, as the company cited supply constraints, including memory shortages and pressure on chip manufacturing capacity.
The report said the contrasting performances highlight Wall Street's growing focus on artificial intelligence, with investors increasingly rewarding companies whose AI investments are producing measurable growth while penalizing weaker near-term outlooks.
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Apple drops 7%, Amazon surges 12% as investors pick AI winners after earnings https://t.co/mWrHf6EBqK
— CNBC (@CNBC) July 31, 2026
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