Stock Market

Amazon Stocks Soar in Frankfurt, Apple Slumps Following Quarterly Results

LONDON (Reuters) – It was a mixed bag of fortunes in Frankfurt as Amazon (NASDAQ:AMZN) stocks soared, all thanks to the company’s optimistic projections for the upcoming third quarter. Meanwhile, Apple’s (NASDAQ:AAPL) German-listed shares stumbled in the aftermath of the company’s forecast of persisting sales decay.

In the bustling German market, Amazon shot up a hefty 8.5%, mirroring the sharp uptick in the U.S. extended trading the previous Thursday. The online retail giant’s shares jumped after announcing a growth in sales and profits that surpassed Wall Street’s estimates. It appears that faster, budget-friendly customer deliveries and the easing of previous difficulties in cloud-computing played a significant role in this outcome.

On the other side of the coin, Apple shares dropped 2.3% in Frankfurt. Despite exceeding Wall Street’s sales and profit predictions for the fiscal third quarter, the tech behemoth’s forecast of a continued sales downturn for the present quarter led to a slide in after-hours trading.

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