Amazon exceeded earnings expectations, with strong growth in cloud business and positive feedback for its AI investment, Anthropic. Stock rallied 11.2% in October, beating tech tension concerns. Revenue hit $180.2 billion in Q3, EPS rose 36.4%. AWS saw 20.2% growth, reassuring investors worried about AI workload competition. E-commerce and ad revenue also accelerated.

Amazon’s strong performance in Q3 allayed fears of lagging behind rivals and showed potential for outperformance. New cloud deal with OpenAI showcases AWS strength in AI computing. E-commerce growth, ad revenue increase, and margin expansion point to continued success. AI and automation set to drive future growth.

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Read more at Nasdaq: Why Amazon Rallied in October