Amzn Stock up as Cargurus Picks AWS as the Global Cloud Infrastructure Supplier

Amzn Stock

AMZN stock was trading at $114.81 as of 12:37 PM EDT.

Online auto marketplace CarGurus (NASDAQ:CARG) announced that it had chosen Amazon Web Services as its primary provider of global cloud infrastructure.

Performance gains for website visitors are anticipated as a result of the multi-year agreement.

Additionally, it is anticipated that the internal development teams of the organization would be more adaptable in how they offer features and products to end users.

CarGurus will enable new product development by utilizing the strength of AWS’ compute, storage, database, analytics, and security capabilities. The CarGurus website should ultimately be faster and more user-friendly, and internal technical teams will have the flexibility to experiment and innovate in order to produce higher-quality goods and services.

Why Is Amazon Stock Volatile?

According to Wendy Bauer, General Manager, Automotive at AWS, “as CarGurus becomes the online destination for purchasing or selling a car, their decision to use AWS as their global cloud infrastructure partner will provide more flexibility and constant innovation.” We are eager to work with CarGurus in the future as they leverage AWS to improve the online car-shopping experience.

According to Matt Quinn, Chief Technology Officer of CarGurus, “Migrating to AWS gives our teams more agility and flexibility, helping us to rapidly scale to meet our company growth goals and rising client demand.” “AWS also offers our engineering team a wealth of innovative new technology alternatives that will allow us to experiment and improve so that CarGurus can empower everyone to get where they need to go.”

Consumer spending declines could impact AMZN stock?

Retailers’ efforts to advance into their busiest sales period can also be a reflection of their worries about sluggish revenue growth. In the second quarter, Amazon’s net sales growth slowed to only 7.2% year over year, reaching $121 billion. Even though the period included the summer Prime Day event, there was a little slowdown from the 7.3% gain in the first quarter, which was also the worst growth rate Amazon had seen in more than 20 years.

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