AMZN Falls 3%
Amazon.com Inc. stock falls nearly 3% on Thursday, underperforming a broadly steady market, despite plans to invest $48 billion in India through 2030
com Inc. (NASDAQ: AMZN ) stock fell nearly 3% on Thursday, underperforming a broadly steady market. 02%. Amazon Plans $48 Billion India Investment Through 2030 Separately, Amazon said Thursday it will invest $48 billion in India through 2030, including an additional $13 billion to expand AI and cloud infrastructure after CEO Andy Jassy met Indian Prime Minister Narendra Modi in New Delhi.
The investment raises Amazon’s planned AI and cloud spending in India to more than $21 billion between 2026 and 2030 and increases its cumulative India investment to more than $88 billion since 2010. The company also plans to open more than 20 fulfillment centers and over 100 last-mile delivery stations this year, while launching the Sammaan welfare program for delivery associates. 8 million jobs, enable $80 billion in cumulative e-commerce exports and bring AI benefits to 15 million small businesses by 2030.
Read Also: Micron Rallies 15%, Apple Sinks 6% On Memory Costs: Stock Market Today Technical Picture Remains Weak Amazon continues to trade below key moving averages, signaling that the recent pullback remains intact. 47. 80, an area investors are closely watching for support. Momentum indicators also remain soft.
The MACD is below its signal line with a negative histogram, suggesting buying momentum has weakened. The 20-day moving average remains below the 50-day average, reflecting short-term weakness. However, the 50-day average remains above the 200-day average following a golden cross in May, indicating the longer-term trend has not yet broken. 50.
Earnings And Analyst Outlook Amazon is expected to report second-quarter results on or around July 30. 68 a year earlier. 70 billion in the prior-year period. 86.
Recent analyst actions include: Truist Securities: Buy, raised price forecast to $320 on May 29. Wells Fargo: Overweight, lowered price forecast to $312 on May 20. TD Cowe n: Buy, maintained $350 price forecast on May 12. 14, indicating a neutral technical trend.
62, underscoring the company’s long-term growth profile despite recent price weakness. 94%. Large inflows or outflows in these funds can influence demand for Amazon shares. 16 at the time of publication on Thursday, according to Pro data.
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