Stock Market Live October 31: S&P 500 (SPY) Soaring on Amazon and Apple Earnings

By Ian Cooper Published Oct 31, 8:50AM EDT

Quick Read

Apple earnings were hot thanks to iPhone 17 sales. EPS of $1.85 was above estimates of $1.77.
Up about $30 in premarket, investors are cheering Amazon’s latest earnings. EPS of $1.95 was above the $1.57 estimate.

Live Updates

Netlix just announced a 10:1 stock split

Oct 31, 2025 at 9:49 AM EDT

Now at $1,113.80, Netflix just announced a 10 for 1 split, which will help make it even more attractive to investors who don’t want to shell out $1,000 for a stock. On November 10, shareholders will receive nine additional shares for every one share owned.

According to the company, it’s doing so to “reset the market price of the Company’s common stock to a range that will be more accessible to employees who participate in the Company’s stock option program.”

The major indices are exploding to higher – again.

Look at the S&P 500 , now up 0.84%, 60 points in premarket, it’s now up to 6,913. In part thanks to impressive earnings beat from Apple (NASDAQ: AAPL | AAPL Price Prediction) and Amazon (NASDAQ: AMZN).

SPDR S&P 500 ETF Trust (NYSEARCA: SPY) up the same percentage now trades over $680 per share.

Apple is Soaring on its Earnings Beat

Apple earnings were hot thanks to iPhone 17 sales. EPS of $1.85 was above the estimates of $1.77. Revenue of $102.47 billion was above estimates of $102.24 billion. Even better, according to Apple CEO Tim Cook, revenue in the current quarter will rise by at least 10% thanks to the strong reception of the company’s iPhone 17 sales.

Analysts loved it.

Evercore ISI reiterated an outperform rating with a $300 price target. JPMorgan has an overweight rating with a $305 price target. Morgan Stanley has an overweight rating with a $305 price target. Citi has a buy rating with a $315 price target. Goldman Sachs also has a buy rating on Apple with a $320 price target.

Shares of Apple are up about $6.51 in premarket.

Shares of Amazon are up about $30 in Pre-Market

Up about $30 in premarket, investors are cheering Amazon’s latest earnings. EPS of $1.95 was above the estimates of $1.57. Revenue of $180.17 billion was above estimates of $177.8 billion. AWS soared to $33 billion as compared to estimates of $32.42 billion. Advertising revenue rocketed to $17.7 billion, as compared to estimates of $32.42 billion.

And according to Amazon CEO Andy Jassy, AWS is growing at a pace the company hasn’t seen since 2022, thanks to growing AI demand. Amazon also raised its forecast for capex this year, saying it now expects to spend $125 billion in 2025, up from its earlier estimate of $118 billion. CFO Brian Olsavsky said that number will increase in 2026.

Goldman Sachs Raised its Nvidia Target Ahead of Earnings

Goldman Sachs just reiterated its buy rating on Nvidia (NASDAQ: NVDA) with a price target of $240 a share from $210. The firm says investor expectations have increased in the quarter, thanks to AI infrastructure news. It also expects NVDA to beat and raise this quarter.

Goldman Sachs is also looking for stock-moving news on NVDA’s $500 billion revenue forecast, details on OpenAI, plans for its Rubin chip, and its potential resumption of business in China.