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Amazon's Q2 Earnings and Stock Forecast Update
2024-08-01 19:55:08
Business
Stocks
Economy

Amazon's Q2 Earnings and Stock Forecast Update

As Amazon prepares to announce its second quarter earnings, attention is on AWS sales and AI investments. Analysts adjust stock forecasts amidst expectations of Prime Video, Prime Day performance, and potential dividend surprises.

Reports also highlight Amazon's low-cost storefront strategy and the impact of Fed policy changes. In parallel, Intel faces competition from AMD and Qualcomm in the PC market, with notable developments in Data Center and AI revenue.

The tech giant plans extensive layoffs and substantial investments in new facilities to address market challenges.

Related news on that topic:

Tech Giants' Stocks Tumble Amid AI Disappointment

The recent earnings reports of tech giants such as Microsoft, Alphabet, Amazon, and Apple have revealed a disappointment in the growth of their AI initiatives. While the companies have made significant investments in artificial intelligence, the monetization of these investments is yet to be seen. Microsoft's Azure growth fell short of expectations, causing a decline in its stock price. Similarly, Alphabet's impressive financials did not prevent a 5% drop in its stock value. Amazon experienced a rare revenue miss, causing a 7% decrease in its stock price. On the other hand, Apple exceeded sales and profit expectations, with CEO Tim Cook emphasizing their integration of AI into their core business. The success of these tech giants depends on device sales and subscription services, as they face pressure to catch up to Microsoft and Google in the AI race. Investors and analysts are now questioning when the massive AI investments will start to generate revenue. Despite the recent setbacks, analysts expect a rebound in the growth of the cloud and AI segments in the future.

Amazon Stock Declines on Disappointing Sales Outlook

Amazon's stock dropped 5% as Q3 sales guidance missed estimates, despite exceeding EPS expectations. AWS showed strong growth, while advertising revenue fell short. Amid Big Tech earnings reports, including Microsoft, Alphabet, Meta, and Apple, investors are wary of significant AI spending. The company faces increased competition from ecommerce giants like Temu and Shein. The Q3 revenue and profit forecasts below expectations led to an 8% decline in stock price. Amazon is ramping up capital expenditures to boost AI and cloud services, aiming to stay ahead in the market. Major news events like the Olympics and political disruptions have impacted consumer spending habits, posing challenges in sales forecasting, according to Amazon's CFO. This uncertain landscape may also influence marketing strategies of other companies amidst ongoing economic pressures.

Read 37 more recent news on this topic

The press radar on this topic:

The Street
5. August 2024 um 23:47

Analyst revamps Amazon stock forecast before earnings TheStreet Daily Newsletter

Economy
Finance
Politics
Technology
Trump vows to fire SEC chair, positioning as pro-crypto. Amazon analysts adjust stock forecast ahead of Q2 earnings. Twitch reinstates Trump's account, citing value in hearing from nominees. Evercore ISI sees modest Q2 beat, revenue and operating income upside likely. BMO raises Amazon price target, cites AWS revenue growth path. Temu's growth, same-day/next-day growth, and higher retail margins. Amazon's Q1 earnings beat, CEO Jassy's comments, Google Cloud growth acceleration. AWS partners with..
Yahoo Finance
1. August 2024 um 18:12

Intel to report second quarter earnings amid reports of layoffs

Economy
Technology
Finance
Intel Q2 earnings: EPS $0.10, revenue $12.9B; facing PC competition from AMD, Qualcomm; Data Center and AI revenue $3B; launching answer to Qualcomm's Snapdragon X Elite chip; plans to lay off thousands; spending billions on factories, facilities.
Yahoo Finance
1. August 2024 um 14:56

Amazon to report second quarter earnings with AWS sales and AI spending in spotlight

Economy
Technology
Finance
Amazon Q2: AWS, AI; Prime Video, Prime Day; low-cost storefront; Fed policy, easing; potential dividend surprise.
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