Shares of several companies in the broader technology sector, including Amazon.com, Inc. AMZN, are trading lower amid overall market weakness as growing COVID concerns and omicron variant uncertainty weigh on market sentiment.
Amazon shares were also trading lower last week as investors weigh last Wednesday's Fed announcements and assess tapering outlook. Expected rate hikes for 2022 which could weigh on tech and growth stocks.
See Also: Why Block Shares Are Sliding
Amazon is a leading online retailer and one of the highest-grossing e-commerce aggregators. Retail related revenue represents approximately 83% of total, followed by Amazon Web Services (12%) and advertising services and cobranded credit cards (6%). International segments constituted 27% of Amazon's non-AWS sales in 2020, led by Germany, the United Kingdom and Japan.
Amazon has a 52-week high of $3,773.08 and a 52-week low of $2,881.00.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
