Investors worried about cloud-computing slowdown
- Amazon’s stock is on track for its largest one-day drop in over eight months
- Investors are concerned about a cloud-computing slowdown at Alphabet
- Amazon’s stock is down 5.7% in afternoon trading
- This is the biggest one-day percentage decline since February
- Analysts believe ongoing optimizations may lead to a steady-to-decelerating AWS growth
Amazon’s stock is experiencing its largest one-day drop in over eight months, as concerns about a cloud-computing slowdown at Alphabet spook investors. The stock is down 5.7% in afternoon trading, marking its biggest one-day percentage decline since February. Analysts believe ongoing optimizations may lead to a steady-to-decelerating AWS growth. Amazon is set to release its September-quarter results after the close of trading on Thursday.
Public Companies: Amazon.com Inc. (AMZN), Alphabet Inc. (GOOG), Microsoft Corp. (MSFT)
Private Companies:
Key People: Thomas Champion (Piper Sandler analyst)
Factuality Level: 7
Justification: The article provides factual information about Amazon’s stock drop and mentions the cloud-computing slowdown as a possible reason. It also includes quotes from an analyst. However, it lacks in-depth analysis and context, and there is no mention of other factors that could be influencing the stock drop.
Noise Level: 3
Justification: The article provides some relevant information about Amazon’s stock drop and the potential impact of Alphabet’s cloud-computing slowdown. However, it lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on short-term market movements and does not explore the long-term trends or consequences of these events.
Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the stock market and specifically mentions the drop in Amazon’s stock due to concerns about Alphabet’s cloud-computing slowdown.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the drop in Amazon’s stock due to concerns about Alphabet’s cloud-computing slowdown. While this is a significant event for Amazon and its investors, it does not involve an extreme event or have a major impact beyond the stock market.
