突然爆雷！刚刚，暴跌！

Core Viewpoint - The article highlights the significant decline in Amazon's stock price following its latest earnings report, raising concerns about its cloud service growth and profitability compared to competitors like Microsoft and Google [2][3][4]. Group 1: Amazon's Earnings Report - Amazon's AWS business generated $30.8 billion in revenue for Q2, slightly exceeding expectations but showing a year-on-year growth of 17%, which is stagnant compared to the previous quarter [3]. - The operating profit margin for AWS dropped from a record 39.5% in Q1 to 32.9% in Q2, attributed to increased capital investments in AI-related infrastructure [3][4]. - Amazon's overall Q2 earnings per share were $1.68, with total revenue of $167.7 billion, both surpassing market expectations [4]. Group 2: Market Reaction and Competitor Comparison - Following the earnings report, Amazon's stock fell by 8.27%, resulting in a market value loss of over $206.3 billion (approximately 1474 billion RMB) [3]. - In contrast, Microsoft's Azure reported a significant revenue increase of 34% year-on-year, with expectations of surpassing $75 billion in fiscal 2025, highlighting a competitive edge over AWS [4]. - Analysts express concerns that competitors are gaining momentum at Amazon's expense, as evidenced by the market's negative reaction to Amazon's performance [4]. Group 3: CEO's Statements and Future Outlook - Amazon CEO Andy Jassy acknowledged supply constraints in AI capabilities, particularly in power supply, which has raised investor concerns [6][7]. - Jassy attempted to reassure investors about AWS's leadership position and its differentiated advantages, including proprietary AI chips that outperform competitors [8]. - He also expressed optimism about the future of AI in enhancing customer experiences and operational efficiency, despite uncertainties regarding tariffs and trade policies [9].