What's Going On With Amazon Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower after the company posted mixed Q2 results, missing net sales estimates but slightly exceeding AWS revenue expectations. The company issued soft Q3 guidance, leading to several analysts lowering their price targets. The stock is down 9.39% in premarket trading.
August 02, 2024 | 1:33 pm
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Amazon shares are trading lower after the company posted mixed Q2 results, missing net sales estimates but slightly exceeding AWS revenue expectations. The company issued soft Q3 guidance, leading to several analysts lowering their price targets.
Amazon's mixed Q2 results, particularly the miss on net sales and soft Q3 guidance, have led to a negative market reaction. Several analysts have lowered their price targets, contributing to the stock's decline. The stock is down 9.39% in premarket trading, indicating a likely short-term negative impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100