Apple Tumbles as Amazon Soars on Earnings Day

US stocks tried to steady on Friday after Apple's disappointing fiscal Q4 outlook sent its stock plummeting by 9.6%.

The tech giant's forecast of 9% to 11% revenue growth for the next quarter fell below analyst expectations, causing investors to reassess their assumptions and reset their price targets.

In stark contrast, Amazon saw a significant boost after its profit beat estimates and strong Amazon Web Services (AWS) growth, with its stock jumping by 14%.

The divergent performances of these two tech giants serve as a reminder that big index-heavy names can have an outsized impact on the broader market, even when other earnings reports are mixed.