Apple Is the Only Big Tech Consolation in Wild $477 Bn Rout

In a week that has seen hundreds of billions in market value wiped out at the biggest technology firms, Apple is bucking the trend.

| Updated on: Oct 29 2022, 23:02 IST
In Pics: Get iPhone 13 Pro priced at just over 95000! Thrilling Amazon offer now live
iPhone 13 Pro
1/5 Even though the iPhone 14 Pro is already getting high praises in the smartphone world with fancy features such as the new “Dynamic Island” notch and upgraded cameras, the iPhone 13 Pro remains one of the best smartphones in the market, performing at par with even the most recently launched flagship smartphones from top brands. (Apple)
iPhone 13 Pro
2/5 Now, Amazon has announced an amazing offer on it where the iPhone 13 Pro can be yours for just Rs. 95850! The e-commerce giant is offering huge discounts in addition to exciting exchange offers and bank benefits on Apple’s flagship smartphone from last year. (
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3/5 Amazon has reduced the price of the base 128GB variant of the iPhone 13 Pro. It is originally priced at Rs. 119900. However, Amazon has reduced the price of the smartphone to only Rs. 109900, giving advantage of a huge Rs. 10000 discount on the smartphone. You can further drive down the price of iPhone 13 Pro with the help of exciting exchange and bank offers. (REUTERS)
iPhone 13 Pro
4/5 Amazon is offering a massive exchange bonus on the iPhone 13 Pro. You can get up to Rs. 14050 off if you trade-in your old smartphone. This pulls down the price of the iPhone 13 Pro to just Rs. 95850! However, the discount depends upon the model and condition of your old smartphone as well as the exchange availability in your area. (iStore)
iPhone 13 Pro
5/5 Amazon is also offering plenty of bank offers which make this deal even more amazing! Federal Bank card holders can get Rs. 750 off on card transactions. Moreover, RBL Bank Credit card holders can get Rs. 750 off on non-EMI and Rs. 1000 off on EMI transactions if they make the purchase using their cards. So, hurry up and grab this amazing iPhone 13 Pro offer before it runs out! (Apple)
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Apple jumped 7.6% on Friday and added more than $150 billion in market value. (AP)

In a week that has seen hundreds of billions in market value wiped out at the biggest technology firms, Apple Inc. is bucking the trend with another set of resilient results.

Apple jumped 7.6% on Friday and added more than $150 billion in market value after the iPhone maker's revenue and profit both topped analysts' estimates. In contrast, fellow megacaps Microsoft Corp., Alphabet Inc., Inc. and Meta Platforms Inc. saw their shares tumble after reporting results this week, shedding $477 billion in combined market value in the trading session immediately after the results.

Apple's slight beat on revenue in the fourth quarter at a time when most large technology companies are struggling “shows a resilient business model,” said Bloomberg Intelligence analyst Anurag Rana.

Earlier on Friday, Amazon fell as much as 12% to briefly dip below $1 trillion in market value, as the e-commerce and cloud computing company joined Microsoft in providing weak updates to its cloud business -- fast-growing divisions for both tech giants.

Overall, Apple turned out to be this week's bright spot among many disappointing earnings releases from technology companies, said Peter Garnry, head of equity strategy at Saxo Bank.

“Apple's performance the past year with a cost-of-living crisis, supply chain constraints and soaring input costs has been phenomenal and last night's result confirms that Apple is a fortress that can withstand the volatile environment,” he said.

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First Published Date: 29 Oct, 23:02 IST
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