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amazon (AMZN) stock rose 5% in after-hours trading on Oct. 31, primarily because the largest online shopping platform and technology company reported very strong third-quarter earnings that clearly outpaced sellers. of furniture.
The company posted earnings per share (EPS) of $1.43, a figure that far exceeded analysts' estimate of $1.16, and total revenue was also $158.9 billion, which was better than the expected $157.29 billion. The company results report. It is a source of evidence about the continuity of the growth of amazon 1 and its main divisions, which are online commerce and AWS (amazon Web Services) in particular.
amazon's AWS revenue rises to $27.45 billion
In the case of AWS, revenue amounted to $27.45 billion, which perfectly matches analyst forecasts. In this way, it was highlighted that the strength of the fast-growing segment endures despite growing competition among large suppliers. amazon Web Services is the giant's protective shield because it is like a big money-making machine that helps cover the retail sector and other areas of low profitability. amazon's fourth-quarter guidance was also a major factor, with revenue expected to fall in the range of $181.5 billion to $188.5 billion, well below what analysts predicted of $186.36 billion.
Additionally, amazon says its operating income will be between $16 billion and $20 billion based on its forecast, with Wall Street analysts estimating it at $17.49 billion. This expectation suggests that amazon is confident in having customers during Christmas, which is crucial for the company and ensures that the business runs smoothly.
On the contrary, this measure was also followed by other large technology companies whose investors, on the other hand, were also concerned about the costs related to ai. Shares of Pat (META) and Microsoft (MSFT) fell on Wednesday as investor sentiment seemed to indicate a lack of preference for their huge ai investments, which, along with companies beating projections, can squeeze margin.
amazon Stock Chart Analysis
AMZN/USD 15-minute chart
Looking at the 15-minute chart of amazon (AMZN), we see a sharp drop in the stock which has plunged from around $195 to $186. Now, it stands at $186.17, a decrease of 0.06% from the previous close. The short-term decline, which begins on October 30, can be a possible positive situation or, in reality, the market is doing the opposite.
In the RSI analysis at the bottom of the chart, the value is 35.38, which means the stock is oversold. An RSI below 30 is mainly a sign that an oversold situation is coming, and that indicates good chances of a reversal, but if it is below the current level, the decline may continue before growth arrives.
If we break it down a little further, we will have a low point of $183.69, which is the most important detail to take into account. If the price falls below this level, it may trigger a further breakout. However, in case AMZN is above the $186 mark, there is a high chance that it will remain stable and also provide a recovery. Therefore, we would be discussing almost $190 and $195, which could be the restricted areas if the price goes up the other way.”
In cases of confusion, your best option remains to seek out an advisor who can provide pragmatic help in determining whether this move is right for you.
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