Amazon Stock Is Rising Today: Here's Why

Amazon.com, Inc. AMZN shares are trading higher by 3.66% to $119.01 Wednesday morning amid overall market strength and in possible sympathy with Alphabet Inc GOOGL GOOG and Microsoft Corporation MSFT, which gained following quarterly earnings. Amazon reports second-quarter earnings tomorrow after the market close.

What Happened?

Microsoft said fiscal fourth-quarter revenue jumped 12% year-over-year to $51.9 billion, which missed the estimate of $52.47 billion. The company reported earnings of $2.23 per share in the quarter, which missed the estimate of $2.30 per share... Read More

Alphabet said second-quarter revenue jumped 13% year-over-year to $69.98 billion, which missed the estimate of $70.35 billion. The company reported quarterly earnings of $1.21 per share, which missed the estimate of $1.31 per share... Read More

What Else?

Traders and investors will be watching for Amazon's second-quarter earnings report Thursday after the market close. Amazon is expected to report revenue of $119.12 billion on EPS of 14 cents.

See Also: Here's How Much You'd Have Now If You Invested $100 In Bitcoin, Ethereum, Apple, Microsoft, Tesla, Amazon And Nvidia 5 Years Ago

According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.