Amazon Soars 15%, Apple Slumps 8% Amid Big Tech Earnings Season

Amazon's stock price skyrocketed by 15% at the close of trading on July 31, 2026, as big tech earnings season reached its inflection point. However, Apple's shares took a hit, plummeting 8%. This divergence in performance suggests that investors are exercising caution regarding the sustainability of the mega-cap rally.

The sharp increase in Amazon's stock price is a significant development, and it has sparked interest among market observers. Meanwhile, Apple's decline serves as a reminder that not all tech giants are performing equally well during this earnings season.

Jim Cramer, a well-known market analyst, was quoted on X as saying, 'This Amazon looks astonishing. Apple's stock has run too much to charge higher. Microsoft...'