Amazon Reports Q3 Earnings Miss, AMZN Shares Fall 2.16%
What happened
Amazon reported third-quarter results that fell short of analyst expectations. Shares traded down 2.16% to $238.77 in Friday midday trading. CNBC reports several analysts characterized the decline as a buying opportunity. The miss weighed on the broader technology complex, with the Nasdaq Composite down 2.00% and Amazon earnings a focal point of the session's tech selloff.
The QL Read
The QL engine holds AMZN at 63/100 (Buy) despite the miss, even as the tape turns risk-off: VIX up 10.41% to 18.99, breadth at 36.3% advancing, and XLK down 3.59%. Watch whether the composite score holds above 60 through the post-earnings session.
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