Overview
- ARK’s Fintech Innovation ETF bought 8,088 Amazon shares worth about $1.93 million on January 30, days before the company reports fourth-quarter results on February 5.
- Wall Street expects Q4 earnings of about $1.97 per share on revenue of roughly $211.43 billion, implying 13% year-over-year growth.
- CEO Andy Jassy has flagged AWS as growing at its fastest pace since 2022 on rising demand for AI tools and core cloud infrastructure.
- Wedbush reiterated an outperform rating with a $340 price target, citing stronger-than-expected AWS demand, a growing backlog, and additional capacity coming online.
- Amazon confirmed 16,000 corporate job cuts on January 28, completing roughly 30,000 reductions since October, and The Wall Street Journal reported talks about a potential OpenAI investment of up to $50 billion.