AMZN Jun 2024 62.000 put

Amazon Q1 earnings driven by AWS, AI innovations: Analyst

Amazon (AMZN) stock rose in extended-hours trading after its first-quarter earnings topped Wall Street estimates. CFRA Research Senior Equity Research Analyst Arun Sundaram credits the success to innovations in Amazon's e-commerce division driving improved retail margins, as well as AWS's position as a powerhouse among other cloud computing competitors. He also highlights the company's artificial intelligence initiatives, telling Julie Hyman and Josh Lipton that Amazon has a "very compelling stack of generative AI products and services" that are being reflected in its stock prices. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl