Amazon.com, Inc. (AMZN.US) shares leaped 12% in pre-market trading on Friday (31st), while Apple Inc. (AAPL.US) fell off 7%, reflecting markedly different investor reactions to the two companies' quarterly results for the period ended June.

Both companies announced quarterly results for the period ended June 2026 on Thursday, with Amazon.com, Inc. receiving a positive market response while Apple Inc. disappointed investors.

Apple Inc.'s quarterly profit, revenue and iPhone sales all topped market expectations, but the company issued weak guidance for the current quarter, citing the impact of supply constraints. Apple Inc. said revenue growth for the current quarter would range between 9% and 11%, below market expectations for 12% growth.
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Apple Inc. (AAPL.US) charted estimate-beating revenue and earnings in 3FQ, but its 4FQ revenue forecast missed. Apple CEO Tim Cook hinted that heavy Siri users may need to pay to use the new version after its launch.

Cook said the company is still formulating plans to address the higher computing costs of the upgraded Siri, possibly by offering certain upgrade plans through iCloud+.

Besides, Apple said users will need to pay for an iCloud subscription to use the new home security features in the next-generation iOS.
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Tesla (TSLA.US) is evaluating a spin-off of its China business to pave the way for a potential merger with Space Exploration Technologies Corp. (SPCX.US), according to market talks.

Elon Musk responded on social platform X that the report claiming Tesla is considering spinning off its China business is fake news.

Some Tesla executives have been told to prepare for the move, while Tesla advisers have discussed various options including spinning off, selling or shutting down its China business, The Wall Street Journal, citing sources, reported.
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Tesla, Inc. (TSLA.US) is evaluating a separation of its China business to pave the way for a potential merger with Space Exploration Technologies Corp. (SPCX.US), The Wall Street Journal, citing sources, reported.

Some Tesla executives have been told to prepare for the move, while Tesla advisers have discussed various options including a spin-off, sale or shutdown of the China business, report told.
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Apple Inc. (AAPL.US) reported fiscal third-quarter EPS of USD2.02 for the period ended June 27, up from USD1.57 in the same period last year. Net sales mounted 16% YoY to USD109.42 billion, with both figures beating expectations.

However, the company said during its earnings conference call that fiscal fourth-quarter revenue growth would only range from 9% to 11%, below market expectations of more than 12%.

Weighed down by the news, the company's share price dived 6.33% to USD312.33 in after-hours trading.

CEO Tim Cook said supply constraints would affect more Mac, iPhone and iPad products this quarter, while foreign exchange fluctuations were also jeopardizing growth.

Cook compared the chip cost issue to a "once-in-a-century flood", saying the chip shortage was caused by stronger-than-expected demand for iPhone and Mac products.
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Meta Platforms, Inc. (META.US) has committed nearly USD700 billion through long-term and short-term agreements for future investments in artificial intelligence data centers (AIDCs), cloud computing and other areas, as revealed by regulatory filings.

Meta has signed USD349.3 billion in irrevocable contractual commitments, mainly involving third-party cloud service agreements, servers and network infrastructure, along with USD347 billion in lease commitments that have not yet commenced execution.
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Amazon.com, Inc. (AMZN.US) disclosed on Thursday (30th) that, following a Supreme Court ruling that multiple tariff measures imposed by US President Donald Trump were unlawful, the company received USD600 million in tariff refunds and expected to return part of the funds to some customers.

Amazon finance chief Brian Olsavsky said during the earnings conference call that the company is participating in the tariff refund process and the company received about USD600 million in 2Q26.

The Supreme Court ruled in February 2026 that the tariffs imposed by Trump under the 1977 International Emergency Economic Powers Act were invalid, requiring the government to refund tariffs to companies affected by the duties on imported goods into the US.

Major corporations including Apple Inc. (AAPL.US), Walmart Inc. (WMT.US), Costco Wholesale Corporation (COST.US), Home Depot, Inc. (The) (HD.US) and General Motors Company (GM.US) have all said they would apply for refunds.
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Amazon.com, Inc. (AMZN.US) reported second-quarter net revenue of USD200.606 billion, up 19.6% YoY, while EPS reached USD5.75, both beating market expectations. Net profit for the quarter spiked 2.45x YoY to USD62.647 billion.

Amazon.com, Inc. expected third-quarter net revenue to range USD197-202 billion, representing YoY growth of 9-12%, compared with market expectations of USD203.93 billion. Operating profit was forecast at USD22.5-26.5 billion, higher than USD17.4 billion in the same period last year, while market expectations stood at USD25.07 billion.

Amazon.com, Inc. shares surged nearly 10% in after-hours trading to USD258.
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Microsoft Corporation (MSFT.US) shares advanced in pre-market trading, while Meta Platforms, Inc. (META.US) plummeted, reflecting investors' differing views on the earnings results of the two tech giants.

Microsoft last spiked 8%, while Meta tumbled 8.5%.

Microsoft announced on Wednesday that revenue for 4QFY26 beat analysts' expectations, while its core Azure cloud business grew 43%, also above market forecasts.

However, Meta's earnings and revenue guidance for the quarter both fell short of investor expectations. Meta stated that it expects revenue for the quarter to be between USD61 billion and USD64 billion, with a median of USD62.5 billion. According to LSEG data, analysts had originally expected revenue guidance of USD63.15 billion.
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On the futures settlement day for Hong Kong stocks, the HSI last reported at 25,821 this morning (30th), up 13 points or less than 0.1%, with turnover of HKD132.3 billion. The HSTECH last reported at 4,795, down 69 points or 1.4%.

The three major A-share indices in Mainland China moved lower in the morning session. The Shanghai Composite Index was down 37 points or nearly 1% at 3,790. The Shenzhen Component Index and ChiNext Index, which are heavily weighted toward technology stocks, plunged 3.4% and 5.4% to 13,188 and 3,195 respectively. The STAR Composite Index also fell off 5.6% to 1,757.

Hijacked by the slump in A-share technology stocks, Hong Kong-listed techs also came under selling pressure. AI large-model stocks were notably weak this morning. Z.AI (02513.HK) opened 1.45% higher before reversing course and once nosediving 17.7% to a low of HKD850, the lowest level in more than two and a half months. It last reported at HKD870, down 15.78%, with turnover of HKD4.34 billion. MINIMAX-W (00100.HK) reversed lower after opening up 0.1% and last reported at HKD203.8, down 4.23%, with turnover of HKD517 million. Big data service provider XUNCE (03317.HK) last reported at HKD97.75, down 5.92%, with turnover of HKD105 million.

AI-related hardware stocks faced hefty selling. MONTAGE TECH (06809.HK) last reported at HKD254, down 5.79%, with turnover of HKD715 million. ILUVATAR COREX (09903.HK) last reported at HKD402.8, down 8.87%, with turnover of HKD671 million. LUXSHARE ICT (02475.HK) last reported at HKD55.55, down 6.09%, with turnover of HKD59.2541 million. LENS (06613.HK) last reported at HKD19.9, down 6.22%, with turnover of HKD179 million. YOFC (06869.HK) last reported at HKD92.5, down 10.02%, with turnover of HKD1.815 billion.

GIGADEVICE (03986.HK) last reported at HKD421.2, down 3.53%, with turnover of HKD1.623 billion. The company said Chairman Zhu Yiming had reduced his A-share holdings and cashed out a cumulative RMB4.4 billion, and planned to increase his A-share holdings by at least RMB1 billion starting from mid-December.

ZJ INNOLIGHT (03308.HK), the optical module giant listed in Hong Kong today, was last at HKD904.5, 7.7% below its listing price of HKD980, with turnover of HKD6.403 billion.
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