In the past four years, the stock has fallen in the week of the two-day sale in which the retail giant discounts swathes of items.
The first four years beginning in 2015 saw Amazon shares average a gain of more than 2% in the week of the event, according to data compiled by Bloomberg.
“Most people invest in Amazon for both” e-commerce and AWS, Eric Clark, portfolio manager at Accuvest Global Advisors, said in an interview. But with “AI being part of the conversation kind of almost every minute of every day, it’s clearly the AWS opportunity and the potential AI implications” that’s proving to be more attractive.
Even though Amazon’s retail business accounted for almost two-thirds of sales last year, the faster-growing AWS unit was responsible for all of the company’s $12.2 billion in operating profit. While growth at AWS slowed to a record low in the first quarter, analysts are optimistic that demand for so-called generative AI applications is poised to reinvigorate sales.
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