Apple and Amazon shares drop, other Magnificent 7 stocks slightly rise

Published 02/05/2025, 10:00
© Reuters.

Investing.com -- Shares of Apple (NASDAQ:AAPL) and Amazon experienced a drop in premarket trading, while other stocks from the Magnificent Seven (Mag 7) showed a slight increase.

Apple’s shares dropped by 2.7% following the company’s announcement of disappointing sales in China. The iPhone maker also warned about the potential impact of tariffs.

CEO Tim Cook stated that the planned US tariffs on foreign imports are expected to add an additional $900 million in costs for the current period.

Similarly, Amazon.com (NASDAQ:AMZN) shares fell by 2.2%. The e-commerce and cloud-computing giant provided a weaker-than-expected outlook for operating income and indicated that it is preparing for a more challenging business climate in the upcoming months.

On the other hand, other stocks from the Mag 7 group edged higher on hopes of positive developments in U.S.-China trade talks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.