MM123: Apple & Amazon earnings explained and why the US downgrade shouldn't come as a surprise!
Market Maker
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Apple's Continued Diversification of Product Mix
Amazon's shares are up about 7% aftermarket, which is big. Revenues came in 134.4 billion, well above expectations. Amazon Web Services, AWS, their cloud, division exceeded expectations and advertising beat expectations. In terms of the Amazon story, I really think it's about kind of costs. And we've obviously seen huge job cuts that Amazon have come out with.
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