Amazon Soars as Apple Crashes Amid Divergent Market Trends

The US stock market wrapped up a turbulent month with gains, but the overall rally was marked by a stark divide between individual stocks. Amazon surged 17% for the week, while Apple plummeted 7%, making it its worst single-day performance since April 2025.

Amazon's shares jumped after the company reported revenue from Amazon Web Services rose 37% year over year, marking its fastest growth since 2021. Analysts at Global Markets Investor attribute this to accelerating cloud growth.

The divergence extended across the technology sector, with Microsoft gaining 21.75% and Alphabet rising 11.38%, while Micron fell 10.63% and AMD lost 8.78%. The equal-weighted S&P 500 reached a new record, while high-growth technology and semiconductor stocks plummeted 25% in July.

The US dollar was the week's weakest major asset, with its largest weekly decline in more than three months. Bitcoin also fell 2.1%, while gold gained 0.9%. Major stock indexes still closed the week in positive territory, but market volatility eased as the VIX fear index fell approximately 6%.