Story perspectives

Apple Beats Forecast, Names Successor; Amazon Shares Jump

7/31/2026

Summary

Story summary

Apple Inc. CEO Tim Cook delivered his earnings report, named John Ternus as successor, and posted Q2 revenue of $109.4 billion, beating the $108.65 billion forecast but guiding 9%-11% growth, missing its 12% target because of memory-chip constraints.
Amazon.com Inc. reported Q2 revenue of $200.6 billion, beating the $196.47 billion estimate with Amazon Web Services (AWS) revenue up 37% year-on-year.
Amazon’s shares rose more than 8% after company lifted its capital-expenditure outlook to $220 billion.

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Story summary

Apple Inc. CEO Tim Cook delivered his earnings report, named John Ternus as successor, and posted Q2 revenue of $109.4 billion, beating the $108.65 billion forecast but guiding 9%-11% growth, missing its 12% target because of memory-chip constraints.
Amazon.com Inc. reported Q2 revenue of $200.6 billion, beating the $196.47 billion estimate with Amazon Web Services (AWS) revenue up 37% year-on-year.
Amazon’s shares rose more than 8% after company lifted its capital-expenditure outlook to $220 billion.