Amazon and Apple had better results than the expected sales, they have been reassuring with the investors that the tech giants would go slowdowns in the world economies.

HIGHLIGHTS
Amazon and Apple still in demad even there is hike in the prices
The companies are making progess by controlling the running prices
A condition of economic recession could be seen in US

Amazon had pointed out towards the trading update that there have been higher fees for its Prime membership which would boost its bottom line results. Whereas Apple has mentioned that the demand for all its vital iPhone remained strong in the market. 

Both the firms have claimed that they were making progress by controlling the running prices, even though the costs were rising at fast rates.

Well, the quarterly updates from Apple and Amazon have been closely watched as indicators of how the customers have been reacting to the economic climate.

On Thursday, some official figures have announced that the U.S. economy did shrink for the second quarter in a very row, it would be considered as a milestone that in several countries would be known as economic recession. But not especially in U.S. as it would use some additional data to take such call.

According to the Apple's chief operating officer Luca Maestri, 'our June quarter results continued to demonstrate our ability to manage our business effectively despite the difficult operative environment,' further he added that the company expected growth to rebound again in the months ahead.

However, both the companies have being seeing sales growth slow sharply from last year and profits fall.

Well, the overall sales of Apple product and services rose by 2% year-an-year within April and June to $83bn. Sales of iPhones had continued to power the company's gains, as the supply constraints had controlled back the sales of other product. Along with this, the services business of the company which has Apple Pay and its streaming music and television services, had also seen a growth by 12%.

Meanwhile, Amazon has mentioned that its revenues were up by 7% to $121.2bn, even though its e-commerce business got hit in recent months. The on-line sales got shrink by 4%, the second quarter in a row of decline.

However, during the spring Amazon spooked investors on its on-line sales being softened and it warned it had spent too heavily in order to hire and add warehouses in a bet that pandemic-era shopping patterns would continue.

But recently it has been providing a much more optimistic outlook.

Also Read: After Quarterly Revenue Drop Apple has Rebounded the Demand in China