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Amazon Earnings Beat Expectations, Stock Rises Nearly 10%

Semiconductors, Equipment, Memory, and Hardware stocks rallied hard on Thursday, with investors inclined to bottom-fish in the AI capex buildout theme which has dogged market sentiment for over a month.  Names like Sandisk, Micron, Lam Research, and Western Digitalwere up double-digits on the session, also boosting many Industrials involved in the AI ecosystem, while the "made-obsolete-by AI" spaces of the market - Software, Travel Services, Insurance, and Enterprise IT - lagged.  Other counter-cyclicalsectors which had helped to keep the market from falling off a cliff for weeks - namely Healthcare and Staples - also saw significant outflows.  While all major indices were sharply higher however, skeptical voices question the sustainability of the rebound.  The lack of "market breadth" is one of the biggest concerns and with merit - despite the sharp bounce today, less than 200 names in the S&P 500 were higher on the session.In the opening hours of the evening session, Nasdaq 100 is holding up Thursday's bullishness with a 0.6% rise, while S&P 500 futures are up a more modest 0.2%.  Afterhours, the spotlight fell on results from Amazon.comand Apple.  Amazon ended the afterhours session up nearly 10% as earnings blew away consensus thanks to 37% growth in its Amazon Web Services cloud unit.  Apple, however, was down 6%, spoiling CEO Tim Cook's final earnings call, as the company's softer than expected revenue outlook for September quarter overshadowed its strong performance in Q3.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Cohuup 16.1%Ryan Specialty Holdingsup 13.4%Monolithic Power Systemsup 9.6%Amazon.comup 9.0%DexComup 7.3%Guardant Healthup 6.5%SPX Technologiesup 6.4%Merit Medical Systemsup 4.7%DOWN AFTER EARNINGS -MasTecdown 15.2%Robloxdown 13.8%Redditdown 10.3%Veracytedown 9.7%GoDaddydown 8.2%Strykerdown 7.5%Appledown 5.9%Coinbase Globaldown 5.2%Cortevadown 1.6%

Company Reports Q2 Revenue of $6.38B, Below Consensus

Reports Q2 revenue $6.38B, consensus $6.6B.