US equity markets opened higher on Friday, driven by a sharp divergence in the technology sector following June-quarter earnings reports.
Amazon shares surged 12% in premarket trading after the e-commerce giant reported robust growth in its cloud computing division, AWS.
In contrast, Apple shares fell 7% as investors reacted negatively to the company's forward-looking guidance.
The strong performance in the cloud segment signaled that enterprise spending on artificial intelligence infrastructure remains resilient, providing a counterweight to broader concerns about tech valuation.
In contrast, Apple shares fell 7% as investors reacted negatively to the company's forward-looking guidance.
The decline in Apple's stock price highlighted growing anxiety over demand for consumer hardware, particularly the iPhone, amid a maturing market.
The stark contrast between the two tech giants underscored a shift in investor sentiment: capital is flowing toward companies with clear, high-growth AI monetization paths, while traditional hardware makers face increased scrutiny.