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Why Amazon shares surged 11.5% in November


Published on 2024-12-05 22:31:27 - MSN
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  • Amazon's strong performance came on the heels of its third-quarter earnings report. The post Why Amazon shares surged 11.5% in November appeared first on The Motley Fool Australia.

In November, Amazon's shares experienced an 11.5% surge, driven by several positive developments. The company reported a robust third-quarter earnings report, surpassing expectations with a significant increase in operating income and a notable improvement in its North American segment's profitability. Additionally, Amazon's advertising business saw a 26% year-over-year growth, contributing to the positive market sentiment. The company also announced a new $150 million investment in generative AI startups, signaling its commitment to innovation. Furthermore, the anticipation of a strong holiday shopping season, bolstered by Amazon's strategic moves like expanding its same-day delivery service, added to the optimism. These factors combined to boost investor confidence, leading to the substantial rise in Amazon's stock value.

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