Apple, Amazon Beat Q3 Estimates; AWS Growth

Apple and Amazon both beat Wall Street expectations in Q3, helping lift markets. Apple reported $102.5 billion in revenue and $27.5 billion in profit, driven by iPhone sales and growth in services. Amazon posted roughly $180 billion in sales, with AWS revenue up about 20% to roughly $33 billion; the company disclosed 14,000 planned layoffs and one-time charges that left operating income roughly flat. Earnings across the sector were mixed: Alphabet rallied on ad and cloud strength while Meta plunged after rising expenses and a $16 billion tax charge, and Chipotle fell after a weak quarter. Energy stocks were uneven, with Exxon missing estimates amid lower crude prices and Chevron largely unchanged. Separately, heavy rains and storms in New York killed two people, disrupted flights and prompted flood warnings.