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Mohit Oberoi

Amazon Falls on Fears That AWS Is Losing Market Share: Should You Buy the AMZN Stock Dip Here?

Amazon AWS Amazon.com Inc. Andy Jassy Microsoft Meta

Amazon (AMZN) released its Q2 earnings after the close last night on Thursday, July 31, and the stock is trading lower today as the company’s guidance came in lighter than consensus estimates. Moreover, fears of its enterprise-focused Amazon Web Services (AWS) losing market share spooked investors. 

While it has been a strong earnings season for the “Magnificent 7,” as names like Microsoft (MSFT) and Meta Platforms (META) zoomed higher after showing progress on artificial intelligence (AI) monetization, Amazon will join Tesla (TSLA) as only the second constituent to gap down after the June quarter earnings. (Apple (AAPL), while lower today, is off just 1.83%.) In this article, we’ll look at some of the key takeaways from Amazon’s Q2 earnings and examine whether it makes sense to buy the dip here.

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