(Bloomberg) — All eyes will be Amazon.com Inc.’s cloud business when the technology giant reports earnings on Thursday, after shares of Microsoft Corp. plunged last week due in part to slowing growth at its key cloud-computing platform.
This was not an issue for Amazon’s October earnings, as its shares jumped almost 10% following better than expected revenue from Amazon Web Services, also known as AWS. Now, however, fear is rippling through the tech sector, and Amazon investors are increasingly concerned that the slowdown at Microsoft’s Azure indicates broader weakness for cloud providers. Microsoft shares are down 14% since the report on Jan. 28, erasing more than $500 billion in market value.
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“It isn’t clear how much of Microsoft’s disappointment might be due to company-specific issues and how much might reflect an overall slowing in the cloud space,” said David Miller, chief investment officer at Catalyst Funds, which holds…
https://finance.yahoo.com/news/amazon-cloud-sales-focus-microsoft-112001757.html
