MSFT - Why Amazon Stock Was Moving Higher Today
2024-04-26 16:57:48 ET
Shares of Amazon (NASDAQ: AMZN) were among the winners as strong cloud infrastructure results from Microsoft (NASDAQ: MSFT) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) seemed to lead investors to believe that Amazon will report similar strength in its cloud unit when it reports first-quarter earnings next Tuesday.
Both of its Magnificent Seven peers also reported strong overall results, sending tech stocks up broadly today, and stoking enthusiasm for Amazon's update next week.
As a result, Amazon stock was up 3.4% at the close on Friday.
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Why Amazon Stock Was Moving Higher Today