Amazon Just Suffered a Major AWS Outage. Does It Even Matter for AMZN Stock?

Tech major Amazon's (AMZN) cloud services unit, Amazon Web Services, or AWS, suffered an outage, which affected a gamut of websites and apps across companies such as Snapchat, WhatsApp, and Slack in social media; Fortnite and Roblox (RBLX) in gaming; and PayPal (PYPL)-owned Venmo in fintech. Early morning, yesterday, AWS reported that they were experiencing high error rates and latency in the Virginia region, leading to over 11 million user reports of problems across various applications and platforms.

However, the cloud leader resolved the core issues within three hours of the outage, and normal services were mostly resumed by early afternoon. This also resulted in limited impact on the company's stock. In fact, the AMZN stock was up 1.6% in yesterday's trading session.