Bloomberg Intelligence U.S Tech Earnings, Jobs Report
Feb 2, 2024
Guests include Mandeep Singh and Poonam Goyal discussing positive results for Meta and Amazon. Angelo Zino shares insights on U.S tech earnings. Joanie Bily discusses the January jobs report and employment trends. James Demmert gives his outlook for the markets. Joanne Hsu talks about consumer sentiment data.
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Amazon's Holiday Success
- Amazon's strong holiday sales, with a 9% online gain and 20% third-party sales growth, suggest a healthy consumer.
- Consumers are choosing to spend their money on Amazon.
Amazon's Efficiency Gains
- Amazon's cost to serve a customer's order decreased by 45 cents per unit last year.
- This improvement stems from greater efficiencies in their fulfillment network.
AWS and Generative AI
- Amazon's cloud business, AWS, shows weaker growth compared to Microsoft Azure but remains highly profitable.
- Amazon is actively increasing its exposure to generative AI.