Why Amazon Stock Lost 12% in June
The AI race is heating up.
Overview
Amazon (NASDAQ: AMZN) stock lost 12% in June, according to data provided by S&P Global Market Intelligence. There's a long list of artificial intelligence (AI) concerns that have led to this point, and many of the hyperscalers and other top AI stocks have been dropping of late.
The average U.S. shopper knows Amazon as an e-commerce giant. It's part of the fabric of society at this point, with its trucks a regular feature on U.S. roads and highways. However, it has many other growing businesses, in particular Amazon Web Services (AWS), its cloud services provider that houses its AI business.
Image source: Amazon.
Details
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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.