The darlings of tech just put up some mighty big numbers.
That's just what investors were expecting. All of those companies have blown past the S&P 500 this year, led by Amazon's 73 percent rally. Apple has been the weakest performer of the group, gaining 11 percent, still more than four times the increase in the broad index.
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The story varies for each, but the consistent themes are expanding market share and rising margins as investments in emerging businesses bear fruit. All four are rapidly expanding their brands globally, while weathering an unfavorable currency environment and busting into new markets that go well beyond their core.
Nowhere is that more evident than at Amazon, which reported an unexpected profit, thanks to surprisingly large growth in its cloud-computing division, Amazon Web Services.
"Amazon has emerged from its extensive and extended investment cycle a bigger, stronger, faster company than we anticipated," wrote Stifel Financial analyst Scott Devitt, in a July 29 report, upgrading the shares to a "buy."