💨 Abstract

Amazon Q4 sales exceeded estimates but share prices dropped due to weak cloud computing performance and a lower than expected revenue estimate. Amazon's cloud unit, Amazon Web Services, reported a 19% revenue rise, falling short of estimates. The tech company forecasts between $151 billion and $155 billion for Q1, below analysts' expectations. The cloud weakness follows Big Tech's high capital spending and investor demand for returns from AI investments.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖