Apple and Amazon have reported strong quarterly earnings, with Apple posting a profit of $14.7 billion on $94.9 billion in revenue for its fiscal fourth quarter of 2024. The company reported robust demand for the iPhone 16, generating iPhone revenue of $46.22 billion, even as overall sales in China slowed and missed expectations. Apple's services unit has grown to a $100 billion annual business, with services revenue growing 12-13%. Apple expects Q1 revenue growth in the low to mid single-digit range. Meanwhile, Amazon exceeded revenue estimates, reporting a boost in quarterly profits as it invests heavily in artificial intelligence. Amazon's Q3 revenue was $158.9 billion, up 11% year-over-year. Amazon Web Services (AWS) revenue increased by 19% year-over-year, reaching a $110 billion annual run rate, with an operating margin of 38%. Amazon's operating income rose 56% year-over-year to $17.4 billion. Amazon CEO Andy Jassy hinted at an 'agentic' version of Alexa and noted the company's capital expenditures are expected to exceed $75 billion in 2025, primarily for AWS and AI investments.