A number of companies' stocks achieved new all-time highs on Friday, July 5, including tech behemoths Amazon (NASDAQ: AMZN), (NASDAQ: AAPL), Microsoft, and Meta Platforms. As a result, the S 500 and Nasdaq Composite rose 1% and 2%, respectively, during a 24-hour period.

The rally followed news that unemployment had hit its highest level since 2021. Wall Street expects an uptick in unemployment to bring down interest rates, which often promotes growth in the stock market as companies benefit from lower borrowing costs. As a result, now could be an excellent time to expand your position in "Big Tech" before it's too late.

Amazon and Apple are two attractive options, profiting from immense brand loyalty from their customers and the cash to expand into budding sectors like artificial intelligence (AI). Let's examine these consumer-favorite companies and determine whether Amazon or Apple is the better stock to buy this month.

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Source Fool.com