2024-11-01 09:00:09
Business
Technology
Artificial Intelligence

Amazon's Cloud Triumphs, Apple's Mixed Results

Amazon has demonstrated exceptional performance in the third quarter, primarily driven by its robust cloud business, Amazon Web Services (AWS). The company's revenue soared by 11% to $158.9 billion, with AWS achieving a notable 19% growth. AWS, crucial for artificial intelligence development, generated $10.4 billion in operating profit from $27.5 billion in revenue, contributing significantly to Amazon's overall profit of $17.4 billion. This strong performance has been well-received by investors, resulting in a more than 5% increase in Amazon's stock price.

In contrast, Apple, despite surpassing market expectations with increased iPhone sales, faces challenges. The tech giant's revenue rose by 6% to $94.9 billion. However, a European Court ruling requiring a tax repayment of 13 billion euros impacted Apple's net profit, reducing it by 36% to $14.7 billion. Despite this, iPhone sales climbed by 5.5%, and services like the App Store and streaming services also showed significant growth.

Apple's approach to artificial intelligence appears less convincing compared to its peers. The company has rolled out its first generative AI system across its devices, but the broader integration will be gradual, according to Apple's CFO, Luca Maestri. The mixed reception of Apple's AI initiatives, combined with a slight dip in its stock price, highlights the challenges the company faces in the evolving tech landscape.

Both Amazon and Apple are investing heavily in AI and data centers, reflecting the industry's focus on these areas. However, while Amazon's cloud success has buoyed its fortunes, Apple's strategic moves in AI are yet to fully resonate with investors.

AFP
1. November 2024 um 07:49

Quarterly Results: Amazon with Strong Cloud Business - Apple Does Not Convince

Economy
Technology
Finance
Amazon exceeds expectations thanks to a strong cloud business with high operating profit, which is important for the development of artificial intelligence; Apple impresses with iPhone sales and service business, but has to pay back taxes, invests in energy-intensive data centers, and rolls out its first generative AI system, while its stock value slightly declines as AWS counts many significant online companies among its customers.
heise online
1. November 2024 um 03:31

Amazon with significantly higher profits, multi-billion investments in AI | heise online

Economy
Technology
Finance
Amazon significantly increased sales and profits; online advertising and cloud business are growing, but more slowly than the competition; massive investments in AI and data centers planned.
New York Times - Business
31. Oktober 2024 um 22:08

Amazon Reports Record $15.3 Billion Profit

Economy
Technology
Finance
Amazon reported record $15.3 billion profit; cloud computing sales grew 19% to $27.5 billion, 60% of profit; e-commerce business grew 9%, produced $5.7 billion profit in North America; consumer behavior tricky to predict in election season due to volatile political climate; CEO Andy Jassy excited for holiday season; overall sales grew 11% year-over-year.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!