Good morning. Apple’s earnings underwhelm but Amazon comes in strong. We look at how money (lots of it) influences the US political system. And time to dive into our annual survey of global wine regions. Listen to the day’s top stories.
Apple disappointed investors with a tepid sales forecast and lingering concerns about the intensely competitive China market as the company heads into its most critical sales period of the year. Traders have been betting that Apple Intelligence—its new suite of AI features—will help fuel demand for devices. The quarter was brighter for Amazon, which reported strong results as cost-cutting and investments in technology infrastructure put it on firmer footing. Intel sparked optimism that it’s capable of reclaiming some lost market share after the chipmaker’s earnings outperformed. Still, Intel and Samsung have shed a total of $227 billion in market value this year on their lack of leadership in AI.
