Amazon cut 67,000 jobs in 2022, the first yearly decline in 20 years
Amazon.com Inc. had a pretty bad year in 2022, with the e-commerce and cloud giant recording its biggest loss ever, and with its stock suffering a yearly record loss. Its employees had a bad year, too: For the first time in 20 years, the company shrank its workforce. According to Amazon’s 2022 annual report, released […]
Why Snowflake shares can survive a tough winter, according to Wells Fargo
Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive. He initiated coverage of Snowflake’s SNOW, +1.55% stock with an overweight […]
Oracle Stock: ORCL is worth adding to your portfolio. Here’s why
The transformation of Oracle Corporation (NYSE: ORCL) from a software firm into a diversified cloud solutions provider accelerated in recent years aided by the mass adoption of digital technology across industries. While overcoming the slowdown in its legacy business, the new model enabled the company to become an industry leader with cloud-powered AI and machine-learning […]