Amazon is scheduled to post quarterly earnings after the bell on Thursday.
) is scheduled to post quarterly earnings after the bell on Thursday, wrapping a wave of Big Tech results that have flashed
Analysts expect benefits from Amazon's annual Prime Day event to be a boost to the company's outlook. In a note ahead of earnings, Bank of America Global Research analysts said they expect a second quarter that exceeds expectations for revenue and operating profit, owing to accelerating demand for AWS services and AI features, the potential ramp up of Prime Video ads, and an outlook boost from Prime Day benefits.
But analysts say Amazon is well positioned to capitalize on the AI transition. As the biggest player in the cloud industry, Amazon Web Services claims about 30% of market share, followed by Microsoft Azure and Google Cloud. The trio collectively account for roughly two-thirds of the market.from the likes of Temu and Shein, companies that specialize in low cost goods that rely on a direct-from-factory supply chain.
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