For Amazon's (NASDAQ: AMZN) stock, November has been the month of mass insider sales as founder and CEO Jeff Bezos has been reducing his stake in the company to the tune of $2 billion per round on average.
We have narrowed our search to five large-cap momentum stocks. These are: AMZN, NEM, KLAC, UBER, SPGI.
Amazon (NASDAQ: AMZN) is aiming to challenge Nvidia's (NASDAQ: NVDA) dominance in the artificial intelligence space by planning to launch its custom-made chips.
Homebuilders have struggled, but Lee Munson expects D.R. Horton (DHI) will be needed down the road.
Amazon.com's cloud computing unit on Tuesday said it will offer free computing power to researchers who want to use its custom artificial intelligence chips, aiming to challenge Nvidia's popularity among those researchers.
There's an AI chip battle brewing among the major cloud vendors. Google's Trillium, a custom chip for training and running AI models, recently entered preview, and Microsoft's Maia is expected to follow in short order.
24/7 Wall St. Insights Amazon.com Inc. (NASDAQ: AMZN) reportedly will manufacture its own AI chips.
Amazon continues to shine operationally, with strong Q3 results where management is proving excellent at driving profit growth. My valuation analysis shows that the company is now significantly overvalued, with a -32% margin of safety for investment. The company remains a prudent long-term holding, given its exceptional management and governance, where profit growth could evolve into dividend returns.
The S&P 500 NYSEARCA: SPY is in a strong uptrend that is gaining momentum following the 2024 election results. The robust technical outlook suggests that the market can increase by another 20% to reach 7,400.
Amazon has associated itself with AI through its cloud computing wing.
These companies are spending a fortune on artificial intelligence (AI), and it could strengthen their competitive advantage.
Amazon stock could hit $300 in the next two years.