Apple: Amazon and Apple bring hope as investors brace for growth slowdown

Apple as well as Amazon added about $175 billion to its combined market value on Friday after bullish results bolstered investor confidence in the firms’ ability to weather the economic slowdown.

While analysts note that these companies have not been completely immune to broader economic obstaclesthey said lower consumer spending was unlikely to result in losses for these companies, seeing them as “always reliable to counter the trend”.

Amazon shares rose about 11% to $135.50 after e-commerce.

forecasts optimistic third-quarter earnings, while Apple’s revenue rose more than 3% as the company said appetite for the iPhone remains strong despite consumers tightening spending.

“The results are good enough to support Apple stock, which has fared much better in the current market downturn, further confirming the company’s safe haven status when things go wrong,” said Haris Anwar, an analyst at Investing.com.

United States stock marketThe hyper-surge in the past decade was fueled by fast-growth and mega-cap companies, but raising interest rates to fight inflation that has been high in recent decades and a sharp rally in the dollar have taken their toll since the beginning of the year.

Earlier this week, optimistic results from Alphabet and Microsoft reassured investors as their shares fell in the first half of the year.

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Amazon like most retailprepares to cut consumer spending as people stick to cheaper essentials to cope with economic woes.

The e-commerce giant’s booming cloud business, coupled with an increase in service offerings, is likely to help mitigate the impact of the cost surge.

Kingsview Investment Management However, portfolio manager Paul Nolte was more skeptical in light of warnings from some major retailers, including Walmart.

“We think the consumer is not as strong as the response to Amazon might seem.”

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