The Yahoo Finance Live team discusses Amazon’s announcement of a new AI platform, Amazon Bedrock, and its impact on the stock in the after-hours trading session.
– Amazon shares, one of the movers today, closing higher as CEO Andy Jassy releases his annual letter to shareholders. You can see up more than 4 and 1/2% on the day. Investors apparently overlooking Jassy’s comments on a short-term headwinds for AWS. A lot of takeaways from this shareholder letter. We’re going to dive into the retail aspect of it later on in the program. What jumped out to you, Rachelle?
– I mean, I was surprised that the shares weren’t more affected. But they seem to be buying into this longer game that Andy Jassy was referencing there. And also, they obviously still on board with Andy Jassy is doing. A lot of companies talking about this being the year of efficiency. So perhaps happy to see some pullback in some areas and really more responsible spending here for Amazon because at one point Amazon was spending quite lavishly on things like some of its Amazon Prime and also some of its streaming aspects as well. So a little bit of a pullback there, but at least tempering some of the expectations. So as you can see there, still in very positive territory so far.