Wall Street analysts were smitten by a rebound in sales of Apple’s iPhones after a year of decline. So much, in fact, that they looked past a weaker-than-expected rise in services revenue, the company’s growth driver.

Facebook last night reported sales that exceeded analysts’ estimates as the operator of the world’s most popular social-networking service attracted more marketers with new features and mobile-advertising tools.

Amazon.com’s days as the most expensive stock in the Standard & Poor’s 500 Index are numbered as chief executive Jeff Bezos reaps profit from an $18.5bn (€14.4bn) spending spree designed to spur growth.