Apple’s earnings received a drastically different reaction from investors than its Big Tech peers Amazon, Google, Microsoft and Facebook.Shares of Apple were up about 7% Friday morning, the day after Apple reported earnings that showed 8% annual sales growth and despite misses on estimates for iPhone and services revenue.Apple looks like a “relatively safe port in the storm,” as a note Friday from Credit Suisse analyst Shannon Cross says.But investors fled from other Big Tech stocks this week. Microsoft and Alphabet had their worst days of the year on Wednesday. Meta had its second-worst day on Thursday, plunging 24% to prices it hasn’t traded at since 2016. And Amazon was down about 10% Friday morning after reporting earnings Thursday.The reasons varied. Meta struggled with shrinking free cash flow as it continued its metaverse spending spree. Alphabet said ad sales were slowing as YouTube reported its first-ever revenue decline. And Microsoft was pressured by weak guidance and cloud revenue that missed expectations. Amazon missed revenue estimates and signaled a weak holiday quarter and narrowing profits.But Apple now looks a lot more stable than its peers, especially as fears of a recession start weighing on ad sales and potential holiday spending. It’s largely because Apple relies on hardware and services that people are still buying.Mac revenue was up 25% year over year, for example. And while iPhone revenue missed estimates, it stil …
