stock soars on AI push, cloud growth By Investing.com
Amazon.com, Inc. (NASDAQ:) has been making waves in the tech industry with its recent financial performance and strategic initiatives. The e-commerce and cloud computing giant has seen its stock price climb as analysts raise their price targets, reflecting growing confidence in the company’s ability to leverage artificial intelligence (AI) and maintain its market leadership position.
Strong Financial Performance Drives Optimism
Amazon’s third-quarter results for 2024 have surpassed expectations, with the company reporting higher than anticipated EBIT (earnings before interest and taxes) for both Q3 and Q4 2024. The Q4 2024 EBIT guidance of $16-20 billion beat Street estimates by 3% and surpassed Buyside expectations of $16.5 billion….
