"Shares of Amazon.com Inc. (NASDAQ: AMZN) gained 4.81% over the past five trading sessions after gaining 1.43% the five prior, bringing the stock's year-to-date gain to 4.15%. Amazon announced in August that it will begin offering customers same-day grocery delivery. In July, it was reported that the company's founder Jeff Bezos sold nearly 3 million shares worth $665.8 million. The stock sale is part of a plan announced earlier this year that will see Bezos unload up to 25 million shares through May 2026."
"While certain business segments like smart home devices are lagging, others - namely AWS - are likely to contribute to the company being able to surpass $100 billion in operating income with the next two years. Emerging business segments add to that optimism. Amazon's recently announced plan to launch a proprietary AI model with advanced reasoning capabilities is set to compete with OpenAI's ChatGPT."
Shares of Amazon rose over recent weeks, lifting year-to-date gains to 4.15% after five-session increases. The company plans same-day grocery delivery and completed large founder share sales under a previously announced plan. Q2 results beat earnings and revenue estimates, with EPS of $1.68 and revenue of $167.7 billion; AWS and advertising outperformed expectations. Management projected Q3 operating income between $15.5 billion and $20.5 billion, below some analysts' forecasts. Amazon announced plans to deploy robots that could replace roughly 600,000 operational jobs. The stock climbed from its August 2024 low to a February 2025 high, and the company is developing an AI model named Nova.
Read at 24/7 Wall St.
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