Apple surprises with strong earnings report

Apple surpassed analysts' expectations with its latest quarterly earnings report, released on Thursday. In the third quarter, Apple achieved revenue of nearly $86 billion, marking a 5% increase from the previous year. The iPhone continues to account for 46% of Apple's sales, despite a slight decline in sales. While Apple cannot confirm whether its investments in artificial intelligence have impacted sales, the report indicates an increased focus on the area. Despite the strong results, Apple's stock rose only 0.6% in after-hours trading.

Amazon disappoints

Amazon released disappointing quarterly results yesterday, failing to meet investors' expectations. In the second quarter, the tech giant's revenue fell short of analysts' predictions, and the forecast for the current quarter is also discouraging. Amazon is facing increasing competition from more affordable platforms like Temu and Shein, which has affected its core business. However, Amazon's cloud division exceeded expectations, achieving a 19% growth from the previous year.

Nintendo sees drop in Switch sales

Nintendo’s revenue and profit sharply dropped in its first fiscal quarter due to declining Switch console sales. Revenue was 246.6 billion yen ($1.65 billion), below the expected 289.61 billion yen, but net profit of 80.9 billion yen beat forecasts. Sales dropped 46.5% year-on-year, with Switch sales down 46% to 2.1 million units. Investors are eager for news of a new console to boost the business, and Nintendo plans to announce a successor by March 2025. The company remains confident in selling 13.5 million units of the current Switch model this year.

Sources: Cnbc.com, euroinvestor.dk