Investors had hoped for a broad rally in big tech stocks, but Amazon’s disappointing guidance and a lukewarm response to Apple’s earnings show the market is becoming more selective. Meta, Microsoft, and Nvidia are pulling ahead, while Amazon, Apple, Google and Tesla lag behind.
“Just as it looked as if investors were ready to go all-in on big tech again, Amazon has come along and spoiled the party. A negative reaction to its results and a lacklustre response to Apple’s numbers would suggest the market has become more discerning," said Dan Coatsworth, an investment analyst at AJ Bell.
