Why Amazon stock traded lower on Thursday


What happened

Shares in Amazon (NASDAQ: AMZN) slipped on Thursday and lost up to 2.2%. At 3:11 p.m. ET, the stock was still 2% lower.

The catalyst that drives e-commerce and Cloud computing A Wall Street analyst’s bullish comment on a competitor was hugely lower.

so what

Wedbush analyst Daniel Ives has published the results of his quarterly channel checks in the cloud computing segment. Ives was particularly optimistic about Microsoft‘S (NASDAQ: MSFT) Outlook “as the Azure cloud growth story in Redmond hits its next growth spurt.”

An engineer looking at a tablet while working in a server room.

Image source: Getty Images.

He noted that the company “has shown incremental strength again,” and posits that Azure’s “major transformative cloud deals are [Microsoft] are north of 50% with a clear dynamic towards 2022. ”

Additionally, Ives points out that Azure could have made incremental stock gains on Amazon Web Services (AWS), which, if so, could be bad news for Amazon. Also, Ives …


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