$AMZN: Doubling Investments? Breaking Records?
Whenever big tech companies related to AI are mentioned, besides Nvidia, Microsoft comes to mind. Among the magnificent 7, there is another AI potential stock. Do you know which stock it is?
Many investors have almost doubled their investment through this stock. How did they achieve it? Let's delve deeper.
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Amazon Could Be A Dominant Leader In AI Infrastructure Alongside Nvidia?
Amazon's AI focus involves chips (Trainium & Inferentia), services (Bedrock), and providing third-party app development, securing a full-stack approach.
In line with its historical strategy, Amazon is continuing to prioritize its long-term growth over short-term profits with AI, investing heavily in R&D and capex for durable infrastructure.
Financial Performance and Growth:
Amazon's AWS division exceeded revenue expectations, reaching $25 billion (forecasted at $24.5 billion), contributing over 60% to the company's operating profit.
Additionally, its advertising arm outperformed, generating $11.8 billion in revenue (forecasted at $11.7 billion).
Amazon's remarkable first-quarter operating income of $15.3 billion (over 200% growth) underscores CEO Andy Jassy's effective cost-cutting strategies, driving net income from $3.17 billion to $10.4 billion year-over-year.
Technically, the market valuation is challenging a critical resistance level at the stock's previous all-time high of $188.65.
Although there was a recent breakthrough to $189.77, the upward momentum didn't sustain, resulting in a retracement.
Analysts anticipate a potential breakthrough of the $200 mark, with resistance zones projected at $201.15, $221.01, $242.86, and $263.72. On the downside, monitoring a support area near $170 is crucial.
Overall, we maintain a positive outlook, expecting prices to surpass nearby resistance levels, supported by Amazon's impressive first-quarter earnings and cost-cutting efforts led by CEO Andy Jassy.
Do you think Amazon's upward trend will continue?
Can it surpass its previous highs?
🎁Rewards：
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