WS #13087
Apple beat Q3 revenue and EPS estimates but shares fell ~2.5% after hours as Services revenue growth slowed and China weakness overshadowed strong iPhone results. Amazon reported a massive beat with revenue of $200.6B and EPS of $5.75, driven by AWS growth of 37% and AI-related strength, sending shares up ~7% after hours. The AI-focused hedge fund Situational Awareness sold most of its $16B public equity portfolio to Citadel after steep losses in AI-related stocks.
Apple Q3 Earnings Beat but Stock Falls on Services/China Weakness
Apple beat Q3 revenue and EPS estimates but shares fell ~2.5% after hours as Services revenue growth slowed and China weakness overshadowed strong iPhone results.
Amazon reported a massive beat with revenue of $200.6B and EPS of $5.75, driven by AWS growth of 37% and AI-related strength, sending shares up ~7% after hours.
The AI-focused hedge fund Situational Awareness sold most of its $16B public equity portfolio to Citadel after steep losses in AI-related stocks.