On Wednesday, according to the White House, Apple (AAPL) would invest $100 billion in the U.S. Commitments are not actual spending unless the company signs a contract.
In 2021, the company committed $430 billion in U.S. investments for the next five years. The actual amount spent is significantly less. By June 2024, Apple had paused its planned RTP campus. It had pushed back on the North Carolina agreement.
AAPL stock popped by 5.1% to close at $213.28 in reaction to the news.
Arista Networks (ANET) gained 17.49% to close at an all-time high. Artificial intelligence lifted its revenue by 30.2% Y/Y to $2.21 billion. Arista is in a strong position to benefit from data-driven AI networking. This includes customers from the client to the cloud markets. Meta Platforms (META) is a meaningfully large customer that buys its distributed Etherlink switches for AI clusters.
After it replaced its CEO, Match (MTCH) reported unexpectedly strong earnings of $0.49. Revenue was flat at $864 million. For the third quarter, Match expects revenue of $910 to $920 million, up by 2% to 3% Y/Y. Gen Z is shunning dating apps, so the growth forecast is a welcome development.
MTCH stock gained 10.5% to close at $37.27 on Wednesday.
