Apple 's and Amazon 's third-quarter financial results are on deck after the bell Thursday. The period's report tends to be one of the weaker ones for Amazon's shares, while Apple has been on a losing streak post-earnings, history shows. Amazon's stock fell 1.6%, on average, on the day following the third-quarter earnings report, according to data from Bespoke Investment Group. The third quarter is typically the worst one for the e-commerce giant's stock, the research found. Bespoke's data examined the past 80 quarterly reports. Last quarter, Amazon posted its third $100 billion quarter in a row but still fell short of revenue expectations. The stock lost more than 7% in a single day after the earnings result, according to Bespoke data. For the third quarter, Wall Street analysts see a 28% year-over-year downside in earnings. "Amazon's profitability should expand as it grows opex more slowly than revenues," Wedbush analysts said in a note. "Amazon Web Services, Fulfillment by Amazon, and ads should drive steady margin expansion, with Prime memberships driving overall retail revenue growth." Wedbush has an outperform rating on Amazon. Shares of Amazon have risen about 3.6% this month, bringing its 2021 return to more than 4%. The stock is significantly lagging the broader market after a strong 2020 that saw shares rallying 76%. Apple's earnings history Tech giant Apple has seen its shares drop post-earnings in the past four straight quarters, according to Bespoke data. The stock fell more than 1% in the day after the company issued its second-quarter earnings report. Apple crushed expectations last quarter and every product line grew by double digits, but the company issued an iPhone chip supply warning that spooked investors and analysts. For this quarter, the Street is looking for nearly 70% earnings growth year over year. DA Davidson's analysts said they will be listening for the impact of supply chain challenges and logistics inflation on Apple's earnings call. "We will be listening to hear how Apple is managing supply-chain with the full suite of its product offerings going into the holiday season and the efficacy of price increases in combating inflationary pressure," the analysts said in a note. The Wall Street firm has a buy rating on Apple. Shares of Apple have gained more than 7% this month and more than 14% this year.
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Apple's and Amazon's third-quarter financial results are on deck after the bell Thursday. The period's report tends to be one of the weaker ones for Amazon's shares, while Apple has been on a losing streak post-earnings, history shows.