Amazon.com, Inc. AMZN shares are trading higher by 1.76% to $135.43 Wednesday afternoon. The stock is on continued strength after the company on October 26 reported better-than-expected third-quarter financial results and strong fourth-quarter guidance. Additionally, tech stocks are trading higher ahead of Wednesday's Federal Reserve decision.
What Happened With Earnings?
Amazon's third-quarter revenue rose by 13% to $143.1 billion, beating expectations of $141.42 billion. Earnings per share were 94 cents, up from 28 cents YoY, surpassing the consensus estimate of 58 cents. AWS sales reached $23.1 billion, marking a 12% YoY increase...Read More
Why The Fed Decision Matters To AMZN Investors
Interest rate changes can influence consumer spending. Higher interest rates can lead to increased borrowing costs for consumers, potentially reducing their disposable income. This may affect Amazon's sales, as it relies heavily on consumer spending.
Federal Reserve interest rate decisions can also influence investor sentiment. A rate hike may lead to increased uncertainty in the financial markets, potentially causing investors to be more cautious and causing stock prices, including Amazon's, to fluctuate.
According to data from Benzinga Pro, AMZN has a 52-week high of $145.86 and a 52-week low of $81.43.
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