Amazon Surges, Apple Sinks in Wild Month-End Trading on Wall Street

US stocks closed out a volatile month with Amazon shares surging on stronger-than-expected quarterly results, while Apple shares slid, according to market data from Friday's trading session.

What moved the market

Amazon's earnings report showed robust growth in its cloud computing and advertising businesses, reassuring investors about the durability of enterprise demand for AI infrastructure. Apple's results, by contrast, fell short of some investor expectations, particularly around hardware sales guidance.

• Amazon shares rallied sharply following its quarterly earnings beat
• Apple shares declined on softer-than-expected guidance
• Global markets, including Australia's ASX, were set to react to the divergence

Broader market context

The mixed results came at the end of a month marked by sharp swings in semiconductor stocks, as investors grew increasingly uncertain about whether heavy spending on AI infrastructure would continue to pay off at the pace markets had priced in.

Asian and European markets were expected to take cues from the Wall Street session, with Australia's benchmark index poised to slip in early trading following the mixed signals from major US tech earnings.

Analysts said the coming weeks would be pivotal for determining whether the AI-driven rally in technology stocks can regain momentum or whether a broader correction is underway.