From Nasdaq: 2024-04-26 16:57:48

Amazon stock rose 3.4% following strong results from Microsoft and Alphabet, fueling optimism for Amazon’s upcoming earnings report. Both companies reported robust cloud infrastructure growth, which could benefit Amazon’s AWS. Analysts expect Amazon’s revenue to rise 25.1% to $142.5 billion with earnings per share jumping $0.31 to $0.83. Stay tuned for the update on April 30.

Investors anticipate a positive quarter for Amazon’s cloud unit, AWS. While Azure and Google Cloud have outpaced AWS recently, signs of recovery in the fourth quarter and strong AI demand from Microsoft and Alphabet could boost Amazon’s results. Amazon’s earnings report on April 30 could lead to significant stock movement.

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Read more at Nasdaq: Why Amazon Stock Was Moving Higher Today