Amazon Cloud Growth Hits Record as Apple Faces Post-Earnings Pressure

Amazon.com Inc. shares soared over 14% in late-market trading following a stellar earnings report that beat Wall Street expectations for the fifth consecutive quarter. The retail and technology giant reported $42.2 billion in revenue from its flagship Amazon Web Services (AWS) cloud division, underscoring its dominance in the infrastructure-as-a-service market. Furthermore, Amazon boosted its full-year spending forecasts, signaling aggressive investment in artificial intelligence and logistics to maintain its competitive edge.

In contrast, Apple Inc. faced a more challenging reception, with its stock retreating following its latest financial disclosures. While investors have viewed Apple as a primary 'AI safety play,' the latest results provided a reality check on the pace of growth for the iPhone maker. In the telecommunications sector, sources indicate that the French government is preparing to sell a portion of its stake in Orange through a secondary share sale. The move comes as European governments look to monetize assets amid shifting economic priorities, while the Canadian dollar recently hit a six-week high against a sliding greenback.