{ }
Symbol AMZN
Name Amazon.com, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Retailing
Industry Internet & Direct Marketing Retail
Market NASDAQ Global Select
Country United States
State WA
City Seattle
Zipcode 98109-5210
Website http://www.amazon.com
Amazon shares fell 4.2% to USD 202.61 after reaching a record high of USD 215.90. The stock's performance now hinges on maintaining support at the USD 200 mark, with potential declines to USD 195.37 if it fails to recover. Key resistance levels include the July high of USD 201.20 and the gap between USD 207.34 and USD 211.48.
UBS's latest 13F filing reveals a significant increase in its portfolio value to $459 billion, up from $405 billion, for the third quarter ending September 30, 2024. The firm boosted its holdings in Microsoft and Apple, with MSFT valued at $13.9 billion and AAPL at $13.8 billion, reflecting increases of 1.40% and 4.88%, respectively. Notable changes include a 64.21% rise in SPDR S&P 500 ETF Put Options, while positions in Nike and Broadcom were among the top securities sold.
Amazon.com shares closed at USD 202.61 after a 4.2% drop, following a record high of USD 215.90. The stock is now testing a crucial support level at USD 200, with potential declines to USD 195.37 if it fails to recover. A rebound above USD 201.20 could signal a return to upward momentum towards USD 220.00.
Tencent is leveraging its WeChat ecosystem to challenge the cloud dominance of Amazon, Microsoft, and Google, offering clients the ability to create their own super apps. With WeChat's 1.3 billion users, Tencent Cloud is attracting interest, particularly from the financial and government sectors, for its integrated services and tailored on-premise solutions. While super apps enhance user engagement, cloud clients prioritize infrastructure reliability and security, highlighting Tencent's unique position in the market.
The Enforcement Directorate (ED) is investigating Amazon and Flipkart, focusing on their vendors to determine if there were violations of foreign direct investment (FDI) norms. The agency is examining whether these platforms influenced pricing and if sellers exceeded the 25 percent sales limit. A nationwide search was conducted on November 7 at major sellers associated with these e-commerce giants.
In 2001, Jeff Bezos sought advice from Jim Sinegal, founder of Costco, during a pivotal meeting that influenced Amazon's pricing strategy. Sinegal emphasized the importance of low prices and value, leading Bezos to implement significant discounts that helped Amazon achieve its first profitable quarter later that year. This approach laid the groundwork for Amazon Prime, which mirrors Costco's membership model by offering substantial value to customers.
Block's Q4 gross profit outlook of 14% fell short of expectations, prompting analysts to predict growth acceleration won't occur until the second half of 2025. Despite this, BTIG's Andrew Harte maintains a buy rating, citing the company's strong product adoption and attractive valuation. Meanwhile, Amazon and Uber also received positive analyst ratings, with Amazon benefiting from its cloud and advertising sectors, and Uber focusing on autonomous vehicle rollouts to enhance service and margins.
Citi has expressed concerns about potential delays and cost overruns for Constellation's restart of the Three Mile Island nuclear plant, despite a generally bullish outlook from other analysts. The plant, which has been shut down since 1979, is expected to bring back 835 megawatts of carbon-free electricity, creating approximately 3,400 jobs in the region. As electricity demand surges, the restart is seen as crucial for grid reliability, with Constellation planning to file for regulatory exemptions to commence restoration work.
The US Federal Trade Commission (FTC) has implemented a "click-to-cancel" rule, mandating that businesses make subscription cancellations as straightforward as sign-ups. The Consumer Financial Protection Bureau (CFPB) will enforce this rule to protect consumers from deceptive practices, particularly in subscription services. Violators may face consequences, as the rule aims to curb unfair subscription practices and ensure transparency in terms and conditions.
Billionaire investors showed a split in their views on Alphabet and Amazon, two major tech stocks, during the last quarter. This division highlights the contrasting strategies of Wall Street's top investors as they navigated their portfolios amid market uncertainties.
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