Core Insights - Amazon.com Inc's stock has decreased by 6.4%, trading at $219.15, despite better-than-expected second-quarter results, due to a disappointing operating income outlook for the current quarter [1] - The company plans to increase spending on artificial intelligence (AI) data centers, although revenue growth for Amazon Web Services (AWS) has not met expectations [1] Stock Performance - The stock is experiencing its largest single-day percentage loss since April 3 and has reached its lowest level since June, breaking below the ascending 40-day moving average for the first time since early May [3] - Amazon's stock has a 19% year-over-year gain, but it may end a six-week winning streak today [3] Analyst Ratings - Despite the stock's decline, there have been 10 price-target hikes, including an increase from Rosenblatt Securities to $297 from $288, with 53 out of 54 analysts maintaining "buy" or better ratings [2] - The 12-month consensus target is $257.51, representing a 17.5% premium to current stock levels [2] Options Activity - Today's options activity shows 533,000 calls and 228,000 puts traded, which is four times the typical volume, with the most popular being the weekly 8/1 220-strike call [4]
Amazon Stock Looks to Snap 6-Week Win Streak