Apple posted stronger-than-expected results for the first quarter of 2026, with iPhone sales and its Services segment leading the way. Services revenue climbed 16.3% year-on-year to $30.98 billion, topping Wall Street's $30.4 billion estimate compiled by StreetAccount. The result marks a record for the segment. Services, which covers the App Store, Apple Music, iCloud, and similar subscription and licensing businesses, has become a key growth engine for Apple. Unlike hardware, it generates high margins and recurring revenue, making it a closely watched line item by investors trying to gauge Apple's long-term profitability. The broader earnings beat was driven by both the Services outperformance and stronger iPhone demand. This combination suggests Apple's ecosystem strategy, locking users into hardware and then monetizing them through software and services, continues to gain traction. Investors will be watching whether Services can sustain double-digit growth as the global subscriber base matures and regulatory scrutiny over App Store fees and practices intensifies across multiple markets.
The Indian government has launched an OFS to sell up to 6.5% of its LIC stake, opening for non-retail investors on August 4, 2026, at a floor price of Rs 382 per share, about 11% below Monday's close. The discounted offering is likely to pressure LIC shares in the near term as supply increases sharply.
More than a dozen major Indian companies including Bharti Airtel, ONGC, Pidilite, Nykaa, DLF, and Ather Energy report April-June 2026 earnings on August 4. Results span telecom, energy, consumer goods, real estate, and EV sectors, giving markets a broad read on corporate health mid-earnings season.
Amazon shares hit a new all-time high Monday, pushing its market cap above $3 trillion following a sustained post-earnings rally. The milestone places Amazon among the very few companies globally to reach this valuation, with investor focus on AWS and advertising growth driving the move.
Sensex Gains 500 Points as Oil Falls on Iran Talks
The Sensex rose around 500 points and the Nifty crossed 24,500 on Monday after Donald Trump announced talks with Iran, pushing oil prices lower. IndiGo, ITC, FMCG, and metals led the gains as cheaper crude eased cost and inflation concerns.
