Already three days into the week, it has been headline making for some big, noteworthy AI centric tech names.
Nvidia (NVDA) touched a record high. Rival AMD (AMD) just hit a record high. Marvell Technology (MRVL) lifted its revenue outlook by billions of dollars, and struck a bullish note on the size of its long-term total addressable market.
Then we have a tech behemoth like Amazon, which has not hit a record high. The AWS purveyor’s shares are down 8.5% from their early August 52 week highs. By comparison, Azure owner Microsoft (MSFT) shares are down 4.2% from their 52-week high.
Interestingly, at its current trailing price-to-earnings (P/E) ratio of 20x, Amazon is trading at one of its lowest multiples in years, the team at online trading and investor eductation platform TrendSpider pointed out in their analysis below.
It’s unclear if TrendSpider’s calculations reflect the massive investment gain in the second quarter from…
