Amazon's sales/revenue is set to decrease this quarter and their Amazon Web Services growth is falling. I would not buy Amazon ahead of earnings. IBM reported that their cloud services department did not grow as much as expected. Amazon should feel these same effects. Inflationary pressures most likely took a toll on the consumer and production/operation costs in amazons business. Not to mention higher employee payrolls.
A lot of bullishness surrounding this name the last couple of days. I would look to buy at the support levels, if you wish to long.
A lot of bullishness surrounding this name the last couple of days. I would look to buy at the support levels, if you wish to long.
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2020 was a strong year for amazon. The shock that caused a shift to online work: companies, households needed office/school equipment. Consumers had stimulus to help fund these purchases. AWS also benefited and expanded their clientele.
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Amazon bulls, I have seen quite a lot of funds up there bets on amazon here. Valley Forge Capital Management bought like 200 million a couple days ago.
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Just like I said Amazon Cloud Service revenue dropped similar to IBM's.