THE MARKET ISN'T REWARDING EVERY EARNINGS BEAT Last night's earnings proved one thing, beating estimates alone isn't enough anymore. $AAPL - Revenue: $109.4B vs $108.7B - EPS: $2.02 vs $1.89 Shares fell 7% after hours as weak guidance and supply constraint warnings overshadowed the beat. $AMZN - Revenue: $200.6B vs $197B - EPS: $5.75 vs $1.82 AWS grew 37% YoY, pushing the stock 10% higher after hours as investors rewarded accelerating cloud and AI demand. $COIN - Revenue: $1.22B vs $1.29B - EPS: -$1.36 vs -$0.44 Missed on both revenue and earnings, sending shares 5% lower after hours. The takeaway? Market isn't just pricing results, it's pricing the future. Strong AI growth and improving outlooks are being rewarded. Weak guidance, slowing momentum, and earnings misses are being punished. Meanwhile, US futures are pushing higher today but crypto continues to lag behind. $BTC is still struggling to reclaim $65K, while $ETH trades around $1.9K, showing that risk appetite remains stronger in equities than in digital assets. Today is the final trading session of July. Let's see how the month closes.