Why Amazon Stock Lost 12% in June
Amazon (NASDAQ: AMZN) stock lost 12% in June, according to data provided by S&P Global Market Intelligence. There's a long list of artificial intelligence (AI) concerns that have led to this point, and many of the hyperscalers and other top AI stocks have been dropping of late.
The average U.S. shopper knows Amazon as an e-commerce giant. It's part of the fabric of society at this point, with its trucks a regular feature on U.S. roads and highways. However, it has many other growing businesses, in particular Amazon Web Services (AWS), its cloud services provider that houses its AI business.
Image source: Amazon.
Source Fool.com
