Amazon's stock surged 11.5% in November following strong earnings and promising future guidance.

From Nasdaq: 2024-12-05 09:20:00

In November, Amazon’s stock surged by 11.5% following a strong third-quarter earnings report that beat analyst expectations. The company reported revenue of $158.9 billion and earnings per share of $1.43, with promising guidance for the fourth quarter, particularly in the Amazon Web Services (AWS) cloud computing segment, which saw a 19% growth rate and margin expansion.

Throughout the month, Amazon made significant announcements on both the AWS and e-commerce fronts. AWS invested in AI start-up Anthropic, which partnered with Palantir for U.S. defense agencies. AWS also secured a $475 million deal with IBM for Nvidia chips. On the e-commerce side, Amazon launched “Haul,” a new store selling bargain-priced items under $20, challenging competitors like Shein and Temu.

Investors saw Amazon’s November activities as a positive sign, with the company making strategic moves in AI and e-commerce. Analysts are optimistic about Amazon’s potential for long-term growth and competition in the market. Additionally, investors are advised to keep an eye out for potential investment opportunities in rising stocks like Nvidia, Apple, and Netflix, which have shown significant returns over the years.



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