Amazon.com Inc. (NASDAQ: AMZN) saw a slight increase in its stock price amid ongoing market challenges, with shares down significantly over the last month. The company is set to launch a new AI model, Nova, which aims to rival OpenAI’s ChatGPT, officially targeting a June release. In its latest earnings call, Amazon reported strong growth in advertising revenue, bolstered by high viewership of streaming events. Despite historical stock performance that shows significant gains, analysts emphasize the importance of future performance in the coming years.
Shares of Amazon.com Inc. (NASDAQ: AMZN) gained 0.19% in morning trading on Wednesday, trimming its five-day loss to -6.51%. Still, the stock remains mired in a slump that has accompanied the broad market's sell-off.
This week, the company announced it is planning to launch a proprietary AI model with advanced reasoning capabilities that is set to compete with OpenAI's ChatGPT, tentatively scheduled for a June launch date.
During Amazon's fourth-quarter 2024 earnings call on Feb. 6, the company announced that its advertising revenue surged to $17.3 billion as Thursday Night Football set streaming records by averaging 13.7 million viewers.
However, the only thing that matters from this point on is what the stock will do for the next one, five, and 10 years and beyond.
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