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Apple and Amazon are driving crypto space

 


Apple and Amazon published their reports for the past quarter yesterday and surprised investors and analysts positively.

Apple recorded an increase in sales of 2 percent compared to the previous year to now 83 billion US dollars.

The iPhone maker's earnings fell 10 percent, but the 8 percent drop in earnings per share was less severe than originally feared.

Amazon was also able to score with its quarterly figures. Overall, the e-commerce giant earned $121.2 billion, up 7 percent year-on-year.

The bottom line, however, is a net loss of $2 billion due to a devaluation of a stake in electric car maker Rivian.

However, investors took a positive view of the sales expectations for the third quarter. Growth of between 13 and 17 percent is possible here.

Overall, the figures resulted in significant price gains for company shares. Apple's stock is trading about 2.6 percent up at the time of writing. Amazon even recorded a double-digit price gain of almost 12 percent.

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