Amazon stocks suddenly seem to be a more pragmatic investment now than Apple, if we look a last night's quarterly reports from both tech giants. Even at a first glance, Amazon made it far more convincingly this time, with its $0.65 EPS vs $0.35 expectations and more than 10% of annual growth in sales. Apple was only 5.88% better than expected in EPS and posted a 1.4% decrease in revenue YoY, which was in line with expert forecasts. Over 1 billion paid subscriptions on services like Apple News, Apple TV and iCloud helped offset global iPhone sales shortage. Sales of iPhones amounted to $39.67 billion vs $40.67 billion a year ago, against an average consensus of $39.91 billion.

Meanwhile, Amazon was better with its e-commerce platform income and much better in its cloud segment growth, also giving an upbeat guidance for the rest of the year. Amazon Web Services, which is the official name for its cloud branch, soared by 12% to $22.1 billion, well ahead of estimated 10.2%, as "customers started shifting from cost optimization to new workload deployment," the company's management noted. Amazon now expects sales growth to reach $138-143 billion in Q3, compared to Wall Street's estimates of $138.28 billion. No wonder that the share price of added nearly 10% within the first hour of afterhours trading after the report late Thursday. Apple lost about 2.5% of its capitalisation during the same period to test the levels last seen more than one month ago. This discount could be attractive for mid-term investment plans, yet the price may easily continue to adjust in Apple's case. Meanwhile, Amazon was overweight for so many months and has a higher upside potential.