Amazon shares AMZN made history when AMZN skyrocketed on posting a surprise second quarter profit. Read this article that explains 8 things that you should know about Amazon. On Friday morning Amazon share rose a spectacular 20% in just one day. But Amazon stunning profit maybe short lived. Analysts surveyed by FactSet had been expecting Amazon to report a loss per share of 15 cents on sales of $22.4 billion. Instead, after the closing bell Thursday, Amazon posted earnings per share of 19 cents on sales of $23.1 billion, with its Amazon Web Services business growing 81% from the year-earlier period.
Compare this with Apple. Apple reported a record profit and it’s stock AAPL fell by 8% while Amazon only reported a tiny profit and its shares AMZN rose by a spectacular 20%. Does this prove that the markets are irrational and just nuts.