Amazon stock crash until cannot recognise house

DragonBlack

Banned
Joined
Apr 13, 2007
Messages
16,170
Reaction score
2,714

Amazon Becomes Latest Tech Stock Casualty: Shares Plunge 20% After Dismal Earnings Reveal 'Giant Red Flag'​

Shares of Amazon tanked to levels unseen in more than two years in after-hours trading after the ecommerce juggernaut reported revenue on Thursday that fell short of analyst expectations—making it the latest casualty of an earnings season that has tanked the value of some of technology's biggest players, as fears of an impending recession cut into growth expectations.

Jeff Bezos Speaks At Economic Club Of Washington With Club President David Rubenstein

The after-hours plunge has pushed Amazon shares to their lowest level in more than two years.
GETTY IMAGES

KEY FACTS​

Amazon reported revenue of $127.1 billion in the third quarter, slightly less than the $127.5 billion analysts were forecasting, while net income fell to $2.9 billion, or $0.28 per share, down about 9% from one year earlier.

Immediately after the announcement, shares plunged more than 18% to less than $90 in after-hours trading, pushing the stock to its lowest level since early 2020 and down nearly 50% for the year—far worse than the tech-heavy Nasdaq's 32% decline.

In a statement, Amazon CEO Andy Jassy acknowledged the "uncertain economic times" have forced the company to cut costs across its fulfillment network, and also predicted the company will make about $144 billion in sales this quarter; analysts were expecting the company to pull in $155 billion.

Also driving bearishness, the company reported sales of its fast-growing Amazon Web Services segment grew 28% in the quarter—worse than expectations calling for growth of more than 30%.
"AWS is the heart of the company, and the weakness there will raise a giant red flag," analyst Adam Crisafulli of Vital Knowledge Media said in emailed comments, pointing out the segment has been driving the bulk of Amazon's stock gains during the pandemic.

FORBES VALUATION​

$134.8 billion. That's how much Amazon founder Jeff Bezos was worth when the market closed on Thursday. At one point worth more than $200 billion, Bezos' fortune has cratered alongside shares of Amazon, which peaked at more than $188 last year but have since fallen 53%.

KEY BACKGROUND​

Global economies have started to slow down as central banks including the Federal Reserve work to combat inflation by tempering consumer demand with higher interest rates. Recent earnings reports have started to reflect the pressures—and it's been particularly bad for technology giants. On Tuesday, Alphabet stock plunged after the Google parent missed third-quarter sales and profit expectations. Then on Wednesday, Meta posted similarly disappointing results—pushing the social media firm's shares down nearly 25%.
----------------
Capture.jpg

Become the sole big red tonight... LOL
Capture.jpg
 

hardwaregone

Arch-Supremacy Member
Joined
May 9, 2011
Messages
11,277
Reaction score
2,569
Maybe just buying more infrastructure so capex increased. They won't belly up one la. Likewise for Facebook. :o
 

Movie-Man

Banned
Joined
Oct 6, 2019
Messages
7,651
Reaction score
2,098
Crash 就 crash, 没有办法的。

(Amazon's sales model is a giant unprofitable bubble. Bursting liao)
 

DragonBlack

Banned
Joined
Apr 13, 2007
Messages
16,170
Reaction score
2,714

bakuganboy

Banned
Joined
Aug 31, 2011
Messages
3,092
Reaction score
905
Fang stocks held by rebel China family offices, possibly use the upmarket to liquidate. One by one dump to make it less obvious. Even US Treasury also dump soon.
 

randomph

Arch-Supremacy Member
Joined
May 19, 2004
Messages
13,559
Reaction score
4,307
Fang stocks held by rebel China family offices, possibly use the upmarket to liquidate. One by one dump to make it less obvious. Even US Treasury also dump soon.
Should sell appl then too high
 

Movie-Man

Banned
Joined
Oct 6, 2019
Messages
7,651
Reaction score
2,098
Can share why amzn model is unprofitable?
Their operating expenses are too high and net profit is actually much much lower. They make it up with huge volumes which masked the poor profits. Most amazon sellers and affiliate also don't make money. Only a tiny small handful does.
Amazon is a big bubble that has lasted too long.
 

glarerder

High Supremacy Member
Joined
Oct 6, 2018
Messages
40,187
Reaction score
8,636
It was double digit now back to triple digit. The heart of amzn is their customer service. They'd bounce back.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top