What's Going On With Amazon.Com Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Amazon.com, Inc. (NASDAQ:AMZN) has had a significant year with developments in its grocery business, AI technology in logistics, and AWS's custom silicon chips. In 2024, U.S. consumers will be able to purchase Hyundai cars online via Amazon. The company is enforcing a three-day office work policy, with non-compliance affecting promotions. Employee protests have occurred against this policy. CEO Andy Jassy believes in-office work will strengthen company culture. Amazon competes with Microsoft in cloud computing and uses AI to fight fake reviews. AMZN stock is up 66.4% YTD and rose 0.9% to $144.20 on Friday.
November 17, 2023 | 4:19 pm
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Amazon.com, Inc. has seen developments in AI, AWS silicon chips, and a partnership with Hyundai for online car sales. It enforces a three-day office policy, which has led to employee protests. The stock has risen 66.4% YTD and was up 0.9% on Friday.
The positive developments in Amazon's grocery business, AI technology, and AWS chips, along with the upcoming Hyundai partnership, are likely to be viewed favorably by investors, contributing to a potential increase in stock price. However, the employee unrest over the office work policy could be a concern, but it seems to be overshadowed by the company's overall progress and stock performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100