Amazon: Capex Weighs on Profit Forecast
Here's our initial take on Amazon's (NASDAQ: AMZN) financial report.
Investors had big expectations for Amazon, and in particular the company's AWS cloud unit, following strong results from Microsoft (NASDAQ: MSFT). Amazon revenue and earnings were up 13% and 33%, respectively, beating expectations, and AWS sales grew by 17% to $30.9 billion.
Amazon's release boasted about its largest Prime Day to date and new partnerships including a Nike (NYSE: NKE) storefront. But the focus was clearly on AI. CEO Andy Jassy in a statement said that "our conviction that AI will change every customer experience is starting to play out," noting the company's moves not just at AWS but across Alexa, robotics, and other areas.
Source Fool.com
Microsoft Corp. Stock
€405.70
0.120%
The stock is one of the favorites of our community with 139 Buy predictions and 3 Sell predictions.
With a target price of 495 € there is a positive potential of 22.01% for Microsoft Corp. compared to the current price of 405.7 €.
