Amazon.com Inc. experienced a notable drop in its stock value during morning trading following news of Q1 GDP contraction. This dip, reflecting ongoing investor anxiety, compounded a year-to-date loss exceeding 17%. The firm Jefferies recently adjusted its price target for Amazon down to $250 yet maintained a 'Buy' rating, reflecting optimistic views among analysts. The company's performance hinges on growing segments like AWS and upcoming innovations, including the Nova AI model poised to compete in the rapidly growing AI market.
In light of the recent GDP contraction news, Amazon's shares fell 3.25%, reflecting broader market concerns and the company's significant year-to-date loss of over 17%.
Despite setbacks in certain segments, Amazon's AWS and emerging AI initiatives like the Nova model are expected to bolster operating income significantly.
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