DailyEdge

Amazon's operating profit surged nearly 19% above expectations, offsetting a record $22.6 billion in AI and infrastructure spending. The company credited high demand for everyday essentials, and its Q4 operating income projection further eased concerns about margin impacts.

The company shares fell 3.4% premarket after the company forecasted slower Azure growth for the December quarter, below analyst expectations. Despite strong investments in AI, including OpenAI, capacity constraints are limiting faster gains in the cloud and AI segments.

The company is anticipated to post its highest quarterly revenue increase in two years, with robust iPhone 16 demand in China fueling growth. Investors will closely monitor insights on Apple's AI rollout, as the company faces pressure from competitors in the race to tap into the growing generative AI market. Reuters reports.

The company is anticipated to post its highest quarterly revenue increase in two years, with robust iPhone 16 demand in China fueling growth. Investors will closely monitor insights on Apple's AI rollout, as the company faces pressure from competitors in the race to tap into the growing generative AI market. Reuters reports.

Despite rising tensions in the Middle East following Israel's recent airstrikes on Iranian military sites, oil markets remained calm, with Brent and WTI crude prices both down over 4% on Monday. Market signals suggest traders don't foresee a disruption to Iran's oil production, although potential escalation risks remain.

Shares of Capri Holdings dropped nearly 46% premarket after a U.S. judge blocked its $8.5 billion merger with Tapestry, citing reduced competition in the handbag market. The decision, which Tapestry plans to appeal, leaves Capri exploring alternative options while Tapestry’s shares rose 13% amidst analyst support for its standalone growth.

Tesla's stock surged nearly 12% after CEO Elon Musk reassured investors with a forecast of 20%-30% car sales growth next year, alongside plans for an affordable EV. The jump comes after concerns over Musk's focus on AI and robotics, with investors now encouraged by Tesla's renewed commitment to its core electric vehicle business

The company notified U.S. authorities after discovering one of its chips in Huawei’s AI product, raising concerns over a potential export restriction breach. The chip was identified by TechInsights during a teardown of Huawei's Ascend 910B, despite TSMC having ceased shipments to Huawei since 2020.

The company shares surged 5% to an all-time high after the company raised its full-year targets, driven by strong cloud revenue growth of 27% in Q3. AI played a key role, with 30% of cloud contracts involving AI, while operating profit exceeded expectations, supported by cost-cutting and cautious hiring.

The company will let customers build autonomous AI agents using Copilot Studio starting in November, handling tasks like client queries and inventory management with minimal human input. This move aims to simplify AI monetization as Microsoft and other tech giants seek returns on their AI investments.