Amazon (AMZN) news that moved the stock

What happened

President Trump posted on Truth Social on Friday morning, November 6, reiterating his support for artificial intelligence as the market rout deepened, writing: 'As President, I am 100% in favour of Super Intelligence (SI), and will work with the many States in the US that want to become RICH by having them. They are GOLD, and only foolish leadership will say "NO" to the riches they bring!' In a separate post he blamed voters for the market chaos, writing 'You only have yourselves to blame!' The posts came a day after the Nasdaq's 5.52% plunge and as Nasdaq-100 futures staged a roughly 1.8% premarket bounce ahead of the 8:30 a.m. ET October jobs report.

What happened

U.S. stocks closed sharply lower on Thursday, November 5, completing a violent two-day reversal after Wednesday's post-midterm rally. The Nasdaq Composite plunged 5.52% to 24,315.00, confirming correction territory (at least 10% below its October 6 record closing high) in its biggest single-day percentage drop since April 2025's 'Liberation Day' selloff. The Dow Jones Industrial Average fell 1,833 points, or 3.44%, to 51,523.06, fully erasing Wednesday's 1,500-point post-election surge. The S&P 500 dropped 4.36% to 7,353.73, with every sector finishing in the red. In dollar terms it was the largest single-day market-cap wipeout ever: S&P 500 firms shed $2.9 trillion and Nasdaq companies lost $2.5 trillion. The Magnificent 7 alone lost $1.04 trillion, led by Nvidia (-$374 billion, -9.3%) and Tesla (-$161 billion, about -10.8%), with Microsoft down $117 billion.

What happened

Freedom Broker boosted its price target on Amazon.com (AMZN) to $330 from $255 on Nov. 3, 2026, while reiterating a Buy rating. The new target implies roughly 30% upside from Amazon's recent ~$251 level.

What happened

Phillip Securities upgraded Amazon to 'Buy' from 'Accumulate' on Monday, November 2, raising its price target from $320 to $330, implying about 38% upside from Friday's $240.35 close. Analyst Helena Wang cited strong demand visibility supporting Amazon's aggressive AI capex, Amazon's model-agnostic AI strategy, custom Graviton and Trainium chips, and partnerships with major AI developers. The firm raised its FY2027 revenue estimate by 2%, adjusted net income forecast by 3%, and FY2027 capex estimate by 3%, pointing to AWS's 39.3% year-over-year growth (roughly $46 billion in Q3 revenue) and a record 13.9% operating margin. AMZN rose about 4.6% to $251.49 on Monday, one of the Dow's biggest gainers, as the upgrade joined the Anthropic IPO-filing news in lifting the stock off its post-earnings lows.

What happened

Anthropic filed an amended IPO prospectus with the SEC on Monday disclosing third-quarter results: revenue of $16.95-16.96 billion, up 1,127% from $1.38 billion a year earlier and up from $11.56 billion in Q2. The company posted a $567 million operating loss, versus $974 million in operating income in Q2 — which was Anthropic's only profitable quarter out of its last seven. The loss was driven by $5 billion in short-term compute agreements (priced above long-term contracted capacity) plus $2 billion in non-cash charges tied to an employee donation-matching program. Compute and infrastructure expenses reached $9.86 billion, or 58% of revenue, up from 48% in Q2. Net loss narrowed to $23.29 billion from $66.3 billion in Q2, but was driven mostly by mark-to-market charges on convertible notes as Anthropic's valuation rose. Critically, the filing quantified for the first time about $895.4 billion in committed compute and infrastructure spending as of September 30, with partners including Amazon and Alphabet's Google — among the largest AI infrastructure commitments on record. Anthropic cautioned it does not expect revenue to keep growing at comparable rates. The company is seeking a reported $1.5-2 trillion valuation, which would make this one of the biggest IPOs of all time.

What happened

The Financial Times reported Friday, Oct. 30 that OpenAI cut the target for its latest funding round by $10 billion, to about $20 billion, and lowered the valuation it is seeking to $1.25 trillion from $1.4 trillion pitched last month. The Wall Street Journal separately reported Friday that only about $11 billion was committed by the Oct. 31 deadline, less than half the original $30 billion ask, with several investors reducing their allocations. OpenAI plans to raise additional money from family offices and high-net-worth individuals in the coming weeks to reach $20 billion.

What happened

SBI Research, the economic research arm of State Bank of India, reported overnight that the combined debt of the Magnificent Seven has risen nearly 45% to $578 billion by mid-2026, up from about $399 billion in 2025 and roughly 1.7 times the group's 2023 debt level. The report flags that balance-sheet debt is only part of the picture: the seven companies also carry substantial off-balance-sheet commitments tied to purchases and investments for AI data centers, chips and power. Using an equity-duration approach, SBI estimates that a rise in bond yields could cut the group's combined ~$23 trillion market value by $1.67-2 trillion. The note also calls Anthropic's expected listing around November 12 (targeting a $1.5-2T valuation) a 'high-stakes litmus test' for whether AI revenues can justify infrastructure costs.

What happened

Wall Street suffered its steepest losses since June on Friday as the AI-spend revolt escalated: the Nasdaq Composite dropped more than 3.8%, the S&P 500 fell 2.5%, and the Dow fell 770 points (-1.5%). Intel plunged more than 30% after weaker-than-expected Q4 guidance tied to a faltering PC market and manufacturing bottlenecks. Nvidia fell 5.6% and a chipmaker index sank 9% as investors questioned returns on Big Tech's AI splurge. More than $2 trillion in market value is set to be wiped from the Nasdaq 100 in October alone. By the close, Alphabet and Meta were in bear-market territory (down 20%+ from recent highs), while Amazon and Nvidia joined the correction club (down 10%+). The outlier was Tesla, up about 5% on the week and the only Mag 7 name plus Microsoft and Apple to avoid correction or bear-market status. Amazon's Q3 report — EPS of $1.89 vs $1.97 consensus, free-cash-flow negative with full-year capex running toward $220B — added fuel to the fire.

What happened

Amazon and Intel reported after Thursday's close, and both fed the market's growing anxiety about AI spending. Amazon earned $1.89 a share against forecasts of roughly $1.97, on revenue of $201.9 billion versus the $202.2 billion expected. Capital expenditure came in at $77.3 billion against a consensus of $58.67 billion, and free cash flow over the past 12 months was an outflow of $42.4 billion — it is the third big technology group in nine days to be sold on the cost of its AI build-out. Crucially, Amazon forecast holiday-quarter sales below Wall Street expectations, a potential signal of growing pressure on consumers as inflation picks up. Amazon held its 2026 capex plan at about $220 billion, and Amazon Web Services, its cloud arm, grew 39% to $46.0 billion, its fastest rate in almost five years. Intel beat on adjusted EPS ($0.52 vs $0.41 expected) but missed revenue ($16.5B vs $16.6B) and cited 'near-term headwinds across the PC industry,' with a memory-chip shortage driving up its costs. Amazon shares fell about 7% after hours; Intel plunged ~17.4%.

What happened

Amazon reported third-quarter 2026 results after the close on October 29, missing on both lines: EPS of $1.89 versus the $1.96-$1.97 consensus, and revenue of $201.9 billion versus $202.2 billion expected. Shares fell roughly 6.4% in after-hours trading. The bigger shock was capital expenditure of $77.3 billion, far above the $58.67 billion consensus, leaving the company with a trailing-twelve-month free cash flow outflow of $42.4 billion. Bright spots: AWS grew 39% to $46.0 billion, its fastest rate in nearly five years, and Amazon held its full-year 2026 capex plan at about $220 billion.

What happened

Alphabet shares skidded roughly 12% in Thursday trading and were on pace for the worst single-day decline in the company's history. Class A shares traded around $284; a close near those levels would beat the previous record daily decline of 11.6% from March 2020, in Yahoo Finance daily data going back ten years. The company is on track to lose more than $464B in market value in a single session — the second-worst one-day market-cap loss for any U.S. company on record, behind only Nvidia's $593B loss on Jan. 27, 2025. The selloff dragged the Nasdaq composite down 1.2% even as financials and healthcare held up.

What happened

Microsoft reported fiscal Q1 2027 results after the close on Wednesday, October 28, beating expectations on every headline metric. Revenue rose 19% year over year to $92.28 billion, ahead of the $90.62 billion consensus, and adjusted EPS came in at $4.89 versus $4.71 expected; GAAP net income rose 32% to $36.63 billion ($4.92 per share). Azure revenue grew 48%, beating the ~44-45% constant-currency guidance and the ~44.3% Street expectation, with Azure revenue of $33.2 billion and Microsoft Cloud revenue up 30% to $63.9 billion. Capital expenditures of $45.2 billion (including finance leases; $39.4 billion cash capex) came in below the roughly $51 billion analysts expected, and free cash flow of $18.6 billion, though down 27% year over year, beat the ~$8 billion Wall Street expected. Shares jumped about 4% in after-hours trading to around $552, after closing roughly flat at $531.01.

What happened

Alphabet reported Q3 2026 results after the close on Wednesday, October 28, missing on the bottom line and sending shares down 8.5% in after-hours trading to $297.11. EPS came in at $2.12, down from $2.87 a year ago and well below the $3.02 consensus, while revenue rose 25% to $127.6 billion, narrowly missing the $128 billion expectation. The EPS miss was driven largely by an $8.66 billion loss on equity securities, versus a $10.73 billion gain a year earlier; excluding one-time items, EPS was $2.67. Google Cloud was the standout, with revenue more than doubling (+103%) to $30.7 billion and operating profit of $11.1 billion, above the $9.8 billion estimate. But Google Services — search, YouTube and subscriptions — fell short, with operating income of $39.2 billion versus $40.8 billion expected, and YouTube ad revenue of $11.21 billion missing the $11.5 billion estimate. Free cash flow went further negative to -$9.1 billion, the second straight quarter of negative FCF, as Q3 capex jumped 114% to $51.4 billion.

What happened

Anthropic, PBC publicly filed a Form S-1 with the SEC on Monday, October 26, 2026 (accepted 9:00:11 a.m. ET) for an initial public offering of its Class A common stock, to list on the Nasdaq Global Select Market under the ticker ANT. The share count and price range were left blank, so the amount to be raised and the valuation are not yet set; reports put a possible valuation at up to $2 trillion, with some investors now marking it near $1.5 trillion, and bankers reportedly aiming for up to $100B in proceeds. The filing discloses first-half 2026 revenue of $16.3 billion, up about 1,300% from $1.2 billion a year earlier, alongside a net loss of $80.7 billion — but $72.4 billion of that loss is a non-cash fair-value charge on convertible notes, derivatives and SAFEs as Anthropic's valuation rose, leaving an operating loss of $693 million, positive operating cash flow of $3.9 billion, and $131.7 billion in cash and short-term investments at June 30. It also reveals a novel governance structure: a single Class F share held by a founders' company carries 50.1% of votes, and a Long-Term Benefit Trust elects a majority of the board, making Anthropic a controlled company.

What happened

Amazon CEO Andy Jassy said on Friday, October 23, in a video podcast hosted by Andreessen Horowitz co-founder Ben Horowitz and general partner Erik Torenberg, that Amazon Web Services capacity for 2026 is already sold out, capacity for 2027 is largely committed, and a significant portion of 2028 capacity is already booked, as reported by Reuters. Jassy described AI infrastructure demand as insatiable, driven by AI labs and enterprises, and said Amazon keeps some capacity available for on-demand services, EC2 and Bedrock inference, but that the large longer-term capacity blocks are largely committed. He said Amazon's roughly $220 billion 2026 capex plan could rise further, adding: 'If we could build more, we would; this would not be an inefficient use of capital.'

What happened

Instacart (Maplebear, CART) is exploring a possible sale and has held preliminary discussions with potential buyers including Uber and DoorDash, The Information reported on Friday, October 23, citing people familiar with the matter. Instacart has hired an investment bank to evaluate its options, according to the report. Shares of Instacart closed about 9% higher on Friday, while Uber fell nearly 3% and DoorDash dropped more than 4%. Instacart declined to comment; Uber and DoorDash did not immediately respond. Discussions are ongoing and there is no guarantee they lead to a deal. A typical takeover premium of 30-40% would value Instacart at roughly $16-17 billion, versus its roughly $12 billion market value at Thursday's close.

What happened

3M reported third-quarter adjusted EPS of $2.50 on $6.6 billion in sales, beating the $2.38 consensus; organic sales grew 3.3%. Management raised full-year adjusted EPS guidance to $9.10–$9.15 from $8.80–$8.95. Shares rose 4.7% to $169.64 in early trading while the broader market was flat. Barron's and Bernstein noted that Monday's Amazon warrant deal — Amazon can buy 3.2 million shares of 3M with vesting tied to $6 billion of optical-connectivity and data-center product purchases — was arguably the bigger driver than the earnings themselves, since it positions 3M's fiber-optics business as a direct beneficiary of AI data-center capex. The company also announced a collaboration with Genius Electronic Optical on 'expanded beam optics' for server-rack connectivity.

What happened

3M said it issued warrants allowing Amazon to buy up to 3.1 million 3M shares at $164.89 — slightly above Monday's $162.01 close — over seven years as part of a data-center products deal. The majority of the warrants vest only after Amazon spends $6 billion on 3M's optical connectors and other data-center products, effectively locking in Amazon as a large-scale customer of 3M's connectivity hardware. 3M shares rose more than 5% in after-hours trading. The deal would amount to less than 1% of 3M's outstanding shares, and Amazon has previously taken similar supplier warrants in Generac and Qualcomm.

What happened

Hazeltree's Data Insights unit published its September Crowding Report on October 19, 2026, showing hedge funds increased long positions in several major technology stocks in September despite rising interest rates and inflation concerns. Long participation rose in Alphabet, Meta, Microsoft, Nvidia and Amazon, while it declined modestly in Apple and Tesla. Semiconductor positioning turned more bullish overall: the share of PHLX Semiconductor Index constituents with net long positioning rose to 76.7% from 73.3%. Broadcom was the biggest swing — its net long exposure jumped 20 percentage points to 54.1%, shifting from short-biased to long-biased. On the other side, short participation rose notably in Meta and Tesla; Apple and Tesla remained the only Mag 7 stocks with more short than long holders, and Tesla's long-to-short ratio fell to 0.54, its lowest reading of the year.

What happened

Morgan Stanley analyst Brian Nowak named Amazon a 'top pick' for the firm's internet coverage on Monday, October 19, reiterated an Overweight rating, and raised his price target to $350 from $335 — implying roughly 40% upside from Friday's $250 close and a three-to-one risk-reward profile. Nowak argued Wall Street underappreciates Amazon Web Services' growth and profit runway, projecting AWS revenue growth of 47% in 2027 with adjusted margins reaching 42% (a 'Rule of 90' company), driven by enterprise adoption of its Bedrock AI platform. He also cited Amazon's ability to capture shopping from AI agents and its robotics investments in fulfillment centers as durable advantages.

What happened

J.P. Morgan analyst Doug Anmuth raised his price target for Alphabet to $425 from $420 on Thursday, implying roughly 22% upside from Wednesday's close of $347.64. He now expects Google Cloud revenue to grow 100% in Q3, up from an 88% estimate, driven by sky-high demand for Google's tensor processing units (TPUs), custom chips used in data centers and to run AI large-language models. Anmuth said TPU sale inclusion was the primary driver of the increase and that he 'could still be conservative,' and he raised his 2027 Alphabet earnings forecast by 3% to $14.05 a share. In the same note he lifted his Amazon growth estimate on the OpenAI partnership and modeled $10 billion of settlement expenses for Meta.

What happened

Netflix laid off roughly 1,000 employees — about 6% of its ~16,000-person workforce — on Wednesday Oct 14, its biggest cut since 2022, according to an internal memo from co-CEOs Greg Peters and Ted Sarandos seen by Reuters and the Wall Street Journal. The bulk of the cuts fall on product, technology, legal, and human-resources teams; management said the business 'is strong and growing' and remains on track for its full-year forecast, framing the move as disciplined reallocation toward high-impact areas. Separately, research firm Apptopia reported Netflix's U.S. subscriber churn rose 16.6% year over year in Q3 — up from ~8% YoY in the prior three quarters, the seventh straight quarterly increase — while average time spent on Netflix fell in Q3.

What happened

Huber Research analyst Craig Huber on Tuesday double-downgraded Netflix to Underweight (Sell) from Overweight (Buy) and slashed his price target to $70 from $85, ahead of Netflix's Q3 earnings report next week. In a note to clients, Huber cited several 'bad signs,' including press reports of a planned 5% headcount reduction at Netflix. He noted the last significant layoffs came in Q2 2022, when Netflix cut about 4% of staff after subscriber declines, and flagged fears that engagement on the platform is stalling. Huber also pointed to Netflix's mid-July decision to publish viewer engagement reports just once a year starting in Q1 2027, versus twice a year previously, and warned that competition from YouTube, Disney+, Amazon Prime and others means Netflix will have to keep increasing annual content spend. He added a further concern that Netflix might attempt a major acquisition after its failed bid for Warner Bros. Discovery about 10 months ago. Netflix shares rose a fraction to $70.88 in afternoon trading.

What happened

Apple unveiled its first smart-home hub, HomeView, plus a HomePod mini 2 and an updated Apple TV 4K at its 'Welcome Home' launch in New York on Tuesday, Oct. 13. HomeView is a ~6-7-inch square touchscreen hub (tabletop version with a metal speaker base, plus a wall-mounted version) running a new homeOS with widgets, clock faces, and multi-user support, powered by an A18 chip for Apple Intelligence and a smarter Siri. It manages smart-home accessories, home security, photo galleries, calendars, music, and FaceTime calls, with a face-recognition camera that personalizes the display for up to six household members. HomePod mini 2 and the new Apple TV 4K reportedly launch Oct. 30, with HomeView following in mid-November (pre-orders from Oct. 13). Apple shares rallied more than 1% Tuesday, showing relative strength while much of tech sold off.

What happened

Amazon recently blocked Meta Platforms' Muse AI agent from making purchases on its site, saying it wasn't informed of Meta's plans to give it access to the platform. Entrepreneur and Y Combinator co-founder Paul Graham wrote in an X post overnight on Wednesday that 'Amazon banning agents is the first opportunity I've seen since Amazon was founded for a start-up to create an Amazon competitor,' arguing people will want agents to buy things for them and won't want to use an Amazon-supplied agent to do it. Amazon shares fell 1.9% to $255.05 Thursday afternoon. Amazon did not immediately respond to a request for comment.