Amazon reported strong quarterly earnings with shares up more than 10%, driven by massive AI spending and improving cash flow as data centers come online. Apple fell nearly 8% due to an unprecedented DRAM shortage that limits its ability to compete with hyperscalers for memory supply, despite beating earnings estimates. Hedge fund Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, sold its Intel shares after the chipmaker reported strong results, causing the stock to drop from around $110. Boeing is showing a turnaround under CEO Kelly Ortberg, with improved regulatory relations and cash flow, leading to an upgrade to a buy-equivalent 1 rating. Mastercard received price target increases from Raymond James to $632 and Morgan Stanley to $681, while Roblox was downgraded by Deutsche Bank, BTIG and BMO Capital due to weaker third-quarter guidance, with shares down roughly 22% premarket.
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