Amazon shares rebound after a 4.8% weekly decline, supported by strong Prime Day sales and cloud pricing adjustments.
Amazon (AMZN) shares gained 1% in premarket trading at USD 235, recovering from a 4.8% weekly drop. The uptick follows better-than-expected Prime Day performance and announced price increases for its cloud services, AWS.
Shares had fallen earlier in the week but closed 2.5% higher on Friday. Analysts cited resilient consumer demand and cloud revenue growth as key drivers for the rebound, though macroeconomic concerns linger.
No immediate market reaction data was reported beyond the premarket move.