The stock market slipped on Thursday as the Federal Reserve warned that its rate-hiking campaign to slow inflation is nowhere near.
Overall, S&P 500 fell 0.3% to 3,947, while NASDAQ was down 0.4% to 11.145.
Tweet of the Day
$AMZN Bezos’ China-goods flea-market delivered a steaming pile of💩. Huge slowdown in growth at AWS to 27%. 😱 Non-US sales -5%. 😭 Op. margin halved! 🤢 Outlook way below consensus. And the worst chunk: Now $28.5bn in negative L12M FCF, -$46.2bn w record $17.7bn SBC. WTF? 🤯 pic.twitter.com/7qZX1n4ddQ
— Wasteland Capital (@ecommerceshares) October 27, 2022
Chart of the Day
Our chart of the day is the one-year chart of Amazon (AMZN) as of November 5, 2022, when the stock was at $91.
Amazon serves customers theough its online and physical stores with a focus on selection, price, and convenience.
Last qtr, Amazon posted -97% profit growth. Amazon’s retail business was losing money. North America Retail lost $400 million last qtr, as sales increased 20%. International Retail, on the other hand, had a loss of $2.5 million as sales declined 5%.
We have AMZN on the radar as David Sharek, Founder of The School of Hard Stocks, thinks 2023 looks to be a better year for the company. His Fair Value P/E remains at 45 this qtr.
