Amazon Com Stock Price, News & Analysis

Amazon announced its Black Friday Week and Cyber Monday deal events running from November 21 through December 2, offering millions of deals across 35+ categories. Customers can expect up to 50% off on holiday items, electronics, home goods, toys, beauty products, and fashion from popular brands. New features include AI-powered shopping assistance through Rufus, AI Shopping Guides, and a Virtual Holiday Shop with 3D immersive experience. The event coincides with NFL Black Friday Football on Prime Video, featuring the Kansas City Chiefs vs Las Vegas Raiders. Prime members can enjoy free shipping on over 300 million items, with Same-Day or One-Day Delivery available on tens of millions of products.

Amazon (AMZN) reported strong Q3 2024 financial results with net sales increasing 11% to $158.9 billion. Operating income rose to $17.4 billion, up from $11.2 billion in Q3 2023. Net income reached $15.3 billion ($1.43 per diluted share), compared to $9.9 billion ($0.94 per share) year-over-year. AWS segment sales grew 19% to $27.5 billion. The company saw significant improvements across all segments, with North America sales up 9% to $95.5 billion and International sales increasing 12% to $35.9 billion. Operating cash flow increased 57% to $112.7 billion for the trailing twelve months.

Lumen Technologies (LUMN) and Amazon Web Services (AWS) announced a strategic partnership to enhance data center connectivity and optimize cloud technology delivery across the United States. Lumen will provide dedicated fiber infrastructure connecting AWS Regions and Local Zones, while implementing AWS technologies, including AI and machine learning, to modernize its systems. The collaboration aims to support high-bandwidth AI applications and enable dynamic network management. Lumen will migrate its IT and product platforms to AWS, utilizing Amazon Bedrock for network optimization and resource planning, working towards developing an AI-powered autonomous network platform.

Blue Duck Capital, a long/short equity investment manager and Amazon shareholder, has issued an open letter to Amazon's Board of Directors expressing concerns about the company's stock performance. The letter proposes several initiatives including: implementing a significant capital return program, improving AWS and retail business execution, increasing transparency on A.I. investment plans, better leveraging Whole Foods' market position, and realigning Amazon Studios' capital spending with viewership metrics.

Box and AWS have announced an expanded strategic partnership to enhance generative AI capabilities for enterprises. Box customers can now access foundation models through Amazon Bedrock, starting with Anthropic's Claude and Amazon Titan models. The integration includes a new Box connector for Amazon Q Business, enabling organizations to leverage their private data for AI-powered tasks like content generation, summarization, and information retrieval. The partnership aims to help various industries including financial services, media, law firms, nonprofits, and life sciences organizations to enhance their workflows while maintaining security and compliance standards.

Amazon has announced a new fuel savings benefit for Prime members, offering $0.10 per gallon savings at approximately 7,000 bp, Amoco, and ampm gas stations across the U.S. This could result in average savings of nearly $70 per year for Prime members. The company also plans to introduce an electric vehicle charging savings offer with bp pulse in 2025. To access the fuel savings, members need to activate the offer through amazon.com/fuelsavings and create a free earnify™ account with bp. This adds to Prime's existing benefits including fast delivery, entertainment services, and various shopping discounts.

Q2 Holdings Inc. (NYSE: QTWO) has expanded its strategic partnership with Amazon Web Services (AWS) to drive innovation for financial services. The collaboration includes Presidio, a technology solutions provider, to help Q2 expand its use of the AWS platform for its digital banking products. Q2 will leverage AWS's generative AI technology to help financial institutions automate critical processes and enhance customer service.

Key points:

• Q2 is using AWS's advanced technologies for fraud detection, audience segmentation, and personalized user experiences
• Q2 Sentinel, built on Amazon SageMaker, uses machine learning to monitor user behavior for fraud detection
• Andi Copilot, powered by Amazon Bedrock, automates workflows for commercial banking customers
• Q2 will migrate and modernize over 50,000 services on AWS, including its Innovation Studio and Partner Marketplace platform

Amazon.com (NASDAQ: AMZN) has announced it will hold a conference call to discuss its third quarter 2024 financial results on Thursday, October 31, 2024, at 2:00 p.m. PT/5:00 p.m. ET. The event will be webcast live, with audio and associated slides available for at least three months afterwards on the company's investor relations website (www.amazon.com/ir).

Amazon (NASDAQ:AMZN) has unveiled a new lineup of Kindle devices, including the first-ever color Kindle, a re-imagined Kindle Scribe, the fastest Kindle Paperwhite, and a new entry Kindle. The Kindle Colorsoft features a vibrant yet eye-friendly color display with wireless charging and waterproof design. The updated Kindle Scribe offers improved in-book writing experiences and an AI-powered notebook. The new Kindle Paperwhite boasts 25% faster page turns and up to three months of battery life. The entry-level Kindle now comes in a Matcha color option.

The lineup includes Kindle Kids devices with protective covers and Amazon Kids+ subscriptions. All new Kindles come with a three-month Kindle Unlimited subscription. The devices are packaged in 100% recyclable materials. Pricing starts at $109.99 for the entry Kindle, with the Kindle Colorsoft Signature Edition priced at $279.99 and the new Kindle Scribe at $399.99.