🚀 Apple's strong revenue growth

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Apple posted its strongest quarterly revenue growth since 2021, with overall sales up 10% and iPhone revenue jumping 13% year-over-year, thanks in part to strong demand for the iPhone 16. The company beat expectations across most segments, including a 13% rise in its services business and a nearly 15% surge in Mac sales, though iPad and wearables revenue fell. CEO Tim Cook said Apple is “significantly growing” its AI investments and is open to acquisitions to accelerate its roadmap. China sales rose 4%, aided by government subsidies, and Cook dismissed fears that AI hardware would replace the iPhone, calling it a complementary technology.

2. Amazon beat second-quarter earnings and revenue expectations, with strong performances in cloud, ads, and online sales, but shares fell over 7% as its profit forecast for the current quarter came in light. CEO Andy Jassy’s reassurances on AI investments and AWS’s leadership didn’t calm investor worries, especially with AWS’s 18% growth trailing rivals Microsoft and Google. Amazon expects $15.5B–$20.5B in Q3 operating income, below analyst hopes, despite projecting up to $179.5B in revenue. Ad revenue was a bright spot, jumping 23%, but concerns over competition, tariffs, and the slow pace of AI returns kept markets cautious.

3. This gold miner, with a pre-money valuation of only C$15 million, is completing a C$2 million pre-IPO equity raise to restart the Gold Road mine in Arizona, USA. The mine and mill, idled since 2021, are in excellent condition to capitalize on current high gold prices. Gold Road is Arizona's only fully permitted integrated gold mill and plans to list on the TSX.V this October. Management aims to reach 20,000 ounces of gold per year by 2025/26. This would generate over US$40 million EBITDA in 2026 and offer a substantial dividend yield paid in physical gold and silver, presenting significant upside from its current low valuation. Learn more. *

4. Figma soared in its NYSE debut, closing up 250% at $115.50 after pricing shares at $33 — a blockbuster return that values the design software company at nearly $68 billion. The IPO raised $1.2 billion, primarily for existing shareholders, and signals renewed enthusiasm in tech listings after years of stagnation. The surge follows the collapse of Adobe’s $20B acquisition bid in 2023 due to antitrust concerns. With over 13 million monthly users and $250M in Q2 revenue, Figma is riding strong momentum. CEO Dylan Field cautioned that the share price is “a moment in time” as the company stays focused on growth.

   Headlines

   1. Reddit’s shares jumped 20% based on its Q2 earnings beat.

   2. Coinbase shares fell as earnings came in below expectations.

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