It's been a tough week for most Big Techs and Amazon is no exception. This week, we've seen the consequences of inflation on consumer spending. $Alphabet(GOOGL)$ saw its shares drop after YouTube ad revenues came up short, while $Meta Platforms, Inc.(META)$has been in free fall after its earnings miss on Wednesday. The results re-affirm that Amazon's far from immune to the consumer slowdown.
Most of these Big Techs have been spending a huge chuck of their profits on R&D, hence it will be a tough ride in the short-run! Nevertheless, it takes time to reap the rewards and the sell-down may be a good opportunity to accumulate for the long-term!
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