Amazon Soars on Strong Earnings and Bullish AI Outlook
• Amazon shares jumped over 7% in premarket trading Friday after strong Q4 earnings fueled by retail and cloud AI growth • CEO Andy Jassy said generative AI services have potential to generate tens of billions in revenue over next few years • 14% year-over-year jump in Q4 revenue attributed to strong holiday shopping season and October Prime Day event • CFO said demand accelerated for AWS generative AI products like Amazon Q and AI chatbot • Amazon share price poised to break out from rising wedge pattern, with key resistance near $188 and all-time high