"After reporting Q3 earnings on Oct. 30, AMZN hit its first all-time high since February. On the year, Amazon is up 2.27% and it has gained 11.80% over the past year. The earnings report beat on top and bottom lines, with EPS of $1.95 vs. an estimated $15.7, and revenue of $180.17 vs. $177.80 estimated. Meanwhile, revenue from Amazon Web Services was $33 billion and revenue from advertising was $17.7 billion."
"In October, leaked documents revealed that the company is aiming to replace around 600,000 Amazon jobs with robots, with the management team estimating that the effort could trim 30 cents off each item purchased via the e-commerce giant by 2027. In July, the company deployed its 1 millionth robot while also deploying its new AI foundation model to power its robotic fleet."
Shares rose 7.83% over five sessions after a prior 1.29% decline, yet the stock was affected by an AI-induced sell-off beginning in late October and continuing through November. The stock is up 5.90% year-to-date and 10.68% over the past year. After reporting Q3 earnings on Oct. 30, AMZN hit its first all-time high since February following beats on top and bottom lines, with EPS of $1.95 vs. an estimated $15.7, and revenue of $180.17 vs. $177.80 estimated. AWS revenue was $33 billion and advertising revenue was $17.7 billion. Leaked plans aim to replace around 600,000 jobs with robots and trim 30 cents per item by 2027. The company deployed its 1 millionth robot, launched branded grocery products, and saw Jeff Bezos sell nearly 3 million shares as part of a larger planned sale. Questions persist about whether growth can continue at its historic pace.
Read at 24/7 Wall St.
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