“They wrote me off, but I didn’t write back…” -Jeff Bezos after AWS dropped Wilt Chamberlain numbers today
After yesterday’s horror flick of a market (directed by Zuck, produced by Microsoft’s Azure slowdown), Bezos stepped into his metaphorical phone booth and came out as Superman.
He then proceeded to throw the entire stock market over his shoulder and sprint through the finish line… closing October positive for the first time since 2022 (a year most investors have emotionally repressed like a bad tattoo from college).
WTF happened, you ask? Simply put, Amazon’s earnings were straight-up filthy. The company hauled in $180.2 billion in revenue and $1.95 per share in profit… blowing every peacocking analyst clean out of their pastel suits.
But the real trampoline for the stock (+10%) came in the form of AWS, which reminded every other cloud competitor who’s still in charge. Cloud sales popped 20%, marking the fastest pace since 2022. And remember this news dropped a day after Andy Jassy laid off 14,000 employees for “company culture”... Translation: Some of you may die, but it’s a sacrifice I’m willing to make.
By the time the clock hit zero, the Nasdaq was up nearly 5%, the S&P 500 +2%, and the Dow +2%, locking in its sixth straight monthly win… its longest hot streak since 2018.
As for the rest of the market, aside from Palantir (+3%) and Oracle (+1%), joining in on Amazon’s AWS sympathy trade… and Reddit finally figuring out how to monetize sh*tposts with AI (+7%)...
Netflix (+3%) got most of the attention from money twitter for their 10-for-1 stock split, chopping that $1,100 share price down to a more “relatable” $110. The board claims it’s about accessibility, but it couldn’t be more obvious… this is Netflix auditioning for the Dow.
Oh and shout out to AMD (+58%) for finishing its best month since 2001 (chip bubble anyone?).
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
At the time of publishing this article, Stocks.News holds positions in Amazon and Netflix as mentioned in the article.
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