Amazon Faces Stock Decline After Cloud Revenue Miss and Tepid Outlook

#Stock Market#Tech Stocks#Alphabet#Amazon Stock#Big Tech#Amazon#Business#Cloud Revenue

990+ Words Refined into 4 Facts by AI • 2 sources • 3h ago

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Amazon shares fell after reporting cloud revenue of $28.79 billion.
First quarter revenue forecast disappointed, reflecting unfavorable impacts.
Stock has formed a rising wedge pattern since July last year.
Key support levels are at $230, $216, and $200.
Investors should watch for a price target of $290 if uptrend resumes.

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Related Update: 2 hours later

Amazon's Decline Tied to Broader Tech Concerns

702+ Words Refined into 4 Facts by AI • 1 source • 46m ago

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Amazon's decline linked to Alphabet's cloud revenue results
Brad Klapmeyer: We're all in favor of having big concentrated positions...
Concerns over 55% of ETFs concentrated in major tech stocks
Financial services and payment companies seen as promising investment opportunities

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