Amazon Stock Soars to New Highs Amid AI Advancements and Record Sales
TL;DR Summary
Amazon's stock reached a new record high, increasing its year-to-date gain to 45%, despite a broader market downturn. The company announced a new supercomputer using its Trainium chips, aiming to compete with Nvidia in the GPU market, and reported record sales at the start of the holiday season. Technical analysis suggests an upside target of $250, with key support levels at $200, $190, and $175. Investors are advised to monitor these levels for potential buying opportunities.
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