Amazon.com Inc.'s earnings report on Thursday could be the catalyst the stock needs to shake off its reputation as an artificial-intelligence laggard.
On Tuesday, a collective shudder ran down the spine of America's white-collar workforce. Amazon announced it's laying off 14,000 employees in a memo that cited AI, kicking off a plan that the Wall Street Journal reports will affect as many as 30,000 corporate jobs.
Amazon's cloud-computing arm plans to invest an additional $5 billion in South Korea over the next six years to build new artificial-intelligence data centers in the country.
Set to release their quarterly reports after-market hours on Thursday, October 30, Amazon and Apple stock have been the laggards of the Mag 7 this year.
Amazon laid off 14,000 employees on Tuesday. Some employees learned about their termination through early-morning text messages.
More big job cuts are coming at Amazon.
As Amazon announces plans to cut up to 30,000 corporate roles globally, almost a tenth of its corporate workforce, it delivers a stark reminder that even scale offers no immunity in today's economy.
Amazon (AMZN) is slated to report third-quarter earnings after the closing bell on Thursday, and some traders are betting the results can give the stock, the laggard of the Magnificent Seven so far this year, a big boost.
The company reportedly plans on laying off up to 30,000 workers.
AMZN's AWS growth, AI innovations, and e-commerce momentum position steady Q3 2025. Diversified revenue streams support buying ahead of earnings.
Amazon plans to cut 14,000 corporate jobs to become leaner in the AI era, the company announced. Audible CEO Bob Carrigan addressed the cuts to its audiobook division in an email to employees.
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