CNBC Television·2025-10-31 11:42Amazon Key Takeaways - Amazon Web Services (AWS) growth accelerated to approximately 20% [2] - Amazon's advertising business exceeds $60 billion with over 20% growth [4] - Amazon is reducing organizational layers to improve agility [6] - Amazon is expected to generate strong free cash flow growth over the next two to three years [4] - Amazon is investing aggressively in AI and seeing tremendous growth in cloud businesses [9][10] Apple Key Takeaways - Apple beat fourth-quarter expectations and raised the bar for holiday sales [12] - Apple is seeing strong demand for the iPhone 17 product family [13] - Apple's services business is now over $100 billion and growing at a double-digit rate [14] - Apple is expected to continue to infuse its own large and small language models into the user experience [16] - Apple is partnering with others, such as Google and OpenAI, to integrate hardware, software, and services [18]