Shares of Amazon.com, Inc. (NASDAQ: 
AMZN) are nosediving amidst market bloodbath in both crypto and stock market world.
Shares of Amazon (AMZN) closed Thursday's session down 4.42% extending lose to Friday's premarket currently down 7.78% approaching $100+ levels. Shares of Amazon have an RSI of 35 highlighting that AMZN is oversold.
If selling pressure persists,AMZN could see the $160 support.
In recent news, the company's hefty capital expenditure plans deepened investor worries over Big Tech's spending spree on artificial intelligence.
Massive AI spending by companies - estimated to be more than $600 billion this year - have raised doubts among investors over the prospects of immediate returns from the huge capital outlays.
Despite the bearish thesis onAMZN, according to 45 analysts, the average rating for AMZN stock is "Strong Buy." The 12-month stock price target is $286.8, which is an increase of 28.79% from the latest price.
About AMZN
Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS).
AMZN) are nosediving amidst market bloodbath in both crypto and stock market world. Shares of Amazon (
AMZN) closed Thursday's session down 4.42% extending lose to Friday's premarket currently down 7.78% approaching $100+ levels. Shares of Amazon have an RSI of 35 highlighting that AMZN is oversold. If selling pressure persists,
AMZN could see the $160 support. In recent news, the company's hefty capital expenditure plans deepened investor worries over Big Tech's spending spree on artificial intelligence.
Massive AI spending by companies - estimated to be more than $600 billion this year - have raised doubts among investors over the prospects of immediate returns from the huge capital outlays.
Despite the bearish thesis on
AMZN, according to 45 analysts, the average rating for AMZN stock is "Strong Buy." The 12-month stock price target is $286.8, which is an increase of 28.79% from the latest price.About AMZN
Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.