Both companies beat on the top and bottom lines on Thursday evening. Amazon closed the regular session at $235.50 and traded up to roughly $252 after hours, a gain of about 7% at the print and 9% at the peak. Apple closed at $333.43 and traded down to roughly $312, a decline of more than 6%. The divergence had almost nothing to do with the quality of the two beats and almost everything to do with a single input cost that both companies discussed at length: DRAM.

A well-reviewed laptop got marked down this week for a reason that had nothing to do with the laptop. The Framework Laptop 13 Pro earned praise for its processor performance, its build quality, and its keyboard, and then lost points for price — with the review attributing the cost directly to high RAM prices. If you have been pricing a machine recently and wondering why the numbers look worse than they did a year ago, that is the explanation, and it is not going to reverse quickly.