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Amazon Stock Plummets Despite Strong Earnings, AI Spending Concerns Weigh
Amazon Stock Plummets Despite Strong Earnings, AI Spending Concerns Weigh
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Amazon's shares tumbled 7.7% in Friday trading despite posting Q2 earnings that crushed analyst estimates. The tech giant reported $1.68 EPS on $167.7 billion revenue, surpassing the expected $1.33 EPS and $162.11 billion forecast. Market sentiment turned sour as investors balked at elevated AI infrastructure costs clouding profit guidance.
The sell-off coincided with broader market weakness following disappointing July jobs data. Amazon's cloud, North America, and international segments all delivered double-digit growth, but Wall Street punished the stock for its ambitious AI investment strategy. Q3 sales guidance of $174B-$179.5B failed to stem the bleeding.
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