Amazon Is Sinking Today -- Is the Stock a Buy Right Now?

Amazon (NASDAQ: AMZN) stock is getting hit with significant sell-offs in Friday's trading despite a strong earnings report from the company yesterday. The tech giant's share price was down 7.7% at 11:15 a.m. ET. Meanwhile, the S&P 500 was down 1.6%, and the Nasdaq Composite was down 2.1%.Amazon posted earnings per share of $1.68 on sales of $167.7 billion, far exceeding the average Wall Street analyst estimate's call for per-share earnings of $1.33 on revenue of $162.11 billion. Despite the big sales and earnings beats, investors are reacting negatively to the company's softer-than-anticipated profit forecast due to high artificial intelligence (AI) infrastructure spending.Amazon's share price is also under pressure today due to bearish momentum shaping the broader market. The Bureau of Labor Statistics' jobs report for July came in with much weaker growth than expected, and jobs growth for May and June was revised far below previously reported figures. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool