Naeem Aslam
Zaye Capital Markets
Amazon's numbers
The earnings per share came in at 28 cents, the revenue produced by the company was 127.10 billion vs 127.46 billion. The web services revenue was 20.5 billion against the expectations of 21.11 billion and advertising revenue was 9.55 billion versus the expectations of 9.48 billion.
According to Amazon, it anticipates fourth-quarter revenue to be between $140 billion and $148 billion, up 2% to 8% from the same period last year. Analysts were anticipating sales to total $155.15 billion.
Although sales growth was back in the double digits in the third quarter with a 15% increase in revenue, Wall Street's expectations were not met.
Amazon has had a difficult year thus far, much like the rest of Big Tech, as it deals with macroeconomic challenges, skyrocketing inflation, and rising interest rates. These difficulties came at the same time as a downturn in Amazon's main retail business as customers started going back to physical stores to shop.
In terms of technical analysis, the stock is trading under the downward trend line and this means that bears are in control of the price. The 50-day SMA is about to drop below the 100-day SMA which is another sign that bears will pick up more steam and there could be more sell off in the store.
The information is purely for education purposes only and cannot be perceived as an advise.
Recommended content
Editors’ Picks
Gold hovers around all-time highs near $3,250
Gold is holding steady near the $3,250 mark, fuelled by robust safe-haven demand, trade war concerns, and a softer-than-expected US inflation gauge. The US Dollar keeps trading with heavy losses around three-year lows.
EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines
The EUR/USD pair retreated further from its recent multi-month peak at 1.1473 and trades around the 1.1300 mark. Wall Street manages to advance ahead of the weekly close, despite escalating tensions between Washington and Beijing and mounting fears of a US recession. Profit-taking ahead of the close also weighs on the pair.
GBP/USD trims gains, recedes to the 1.3050 zone
GBP/USD now gives away part of the earlier advance to fresh highs near 1.3150. Meanwhile, the US Dollar remains offered amid escalating China-US trade tensions, recession fears in the US, and softer-than-expected US Producer Price data.
Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.