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Key News Facts
As of the first half of 2023, Amazon (NASDAQ: AMZN) finished unchanged, while Apple (NASDAQ: AAPL) saw an 18% decline. Both companies are positioned to potentially rebound in the second half of the year amid signs of improved market conditions regarding import tariffs.
The U.S. artificial intelligence market is projected to grow from billions to trillions over the next few years. Both Amazon and Apple are recognized as significant players in this sector, with Amazon leveraging AI in its cloud services and fulfillment networks, generating an annual revenue run rate of $117 billion from Amazon Web Services. The current forward earnings estimates place Amazon at 36 times and Apple at 29 times, indicating investor opportunities as they adapt to market conditions.
Amid ongoing U.S. trade negotiations, which could affect tariffs, the broader market, including the S&P 500, reached record highs recently, revitalizing investor optimism.
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