BusinessFinance

Market Movers: Tech, Biotech and Mining Stocks Drive Midday Trading Activity

Apple shares climbed 4% following strong iPhone 17 sales data and an analyst upgrade. Cleveland-Cliffs surged 24% as the steelmaker considers expanding into rare earths mining. Multiple biotech companies experienced significant price swings amid clinical trial updates and partnership announcements.

Tech Giants Lead Market Movements

Apple shares reportedly climbed 4% during midday trading following positive news about its latest smartphone lineup. According to Counterpoint research, the iPhone 17 series has outsold the iPhone 16 series in both China and the U.S. during the first 10 days of availability. Analysts suggest this stronger-than-expected iPhone demand prompted Loop Capital to upgrade the stock from hold to buy.

CloudTechnology

Major AWS Service Disruption Causes Widespread Internet Outages, Affecting Major Platforms

Early Monday saw a massive AWS outage that brought down major internet services for hours. The disruption affected platforms globally, renewing discussions on cloud infrastructure resilience.

Widespread Internet Disruption Traced to AWS Outage

A significant service disruption at Amazon Web Services early Monday caused widespread internet outages, affecting major platforms and services globally. According to reports, the outage began around 12 AM ET and peaked at 3 AM ET, with disruptions lasting several hours and impacting thousands of users. Sources indicate that popular services like Reddit, Fortnite, Snapchat, and Canva were among those experiencing issues, alongside some government services and companies worldwide.