Why Amazon, Alphabet, and Other Tech Stocks Popped Today
AWS and Google Cloud could be in store for larger-than-expected gains.
Overview
Shares of Amazon.com (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) climbed on Monday, following bullish developments in the cloud industry.
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Reports of price increases at Amazon Web Services (AWS) were taken as an indication of strong demand for cloud computing services. Amazon is reportedly raising prices by up to 20% for access to advanced graphics processing units (GPUs) designed by the likes of Nvidia.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.