Stock Market Today, Feb. 12: Amazon Falls After Analyst Cuts Target on AI Spending Concerns

Amazon (NASDAQ:AMZN), global e-commerce and cloud computing services provider, closed Thursday at $199.6, down 2.20%. The stock moved lower as investors continued reacting to Amazon’s aggressive artificial intelligence-driven capital spending and recent analyst target cuts while weighing AWS growth and long-term AI returns.Trading volume reached 78.6 million shares, coming in about 70% above compared with its three-month average of 46.3 million shares. Amazon IPO'd in 1997 and has grown 203,746% since going public.S&P 500 (SNPINDEX:^GSPC) fell 1.57% to 6,833, while the Nasdaq Composite (NASDAQINDEX:^IXIC) lost 2.03% to finish at 22,597. Within e-commerce and cloud computing, industry peers were mixed, as Alibaba Group (NYSE:BABA) closed at $158.73 (-3.40%) while Walmart (NASDAQ:WMT) finished at $133.64 (+3.78%).AI capital spending concerns continued to ripple through the stock market today. That led Daiwa Securities Group to cut its Amazon stock price target from $300 to $280 citing execution risk from the company’s $200 billion AI infrastructure spending plans. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool