Microsoft, Amazon results to highlight softening cloud business

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Go back to Microsoft, Amazon results to highlight softening cloud business

Amazon (AMZN) to face challenges as COVID-fueled growth normalizes

January 24, 2023 10:08 AM EST

Telsey Advisory Group reiterated an Outperform rating on Amazon.com (NASDAQ: AMZN) but cut the price target on the e-commerce company to $125.00 (From $140.00) ahead of its 4Q22 earnings release scheduled for Thursday, February 2nd.

Telsey reduced their 4Q22 and 2023 outlook on the company to reflect a more challenging consumer and corporate spending environment. The company is facing headwinds in the form of a normalizing... More