Amazon Stock (AMZN)

META ($META) is saying that it is building its cloud business to sell excess AI compute. The Nasdaq and AMZN ($AMZN) are moving lower on the headline. Positions: Long AMZN VS; Short QQQ M

I am paring down my Amazon ($AMZN) and Alphabet ($GOOGL) longs amid today’s outsized (+$13) gains: * AMZN: $246* GOOGL: $350.20 Positions: Long AMZN S GOOGL S

Last week we took a contrarian view on the Mag 7 by purchasing shares of Microsoft ($MSFT), Alphabet ($GOOGL) and Amazon ($AMZN). So far that has worked out well as there is renewed interest in the hyperscalers and developing weakness in the previous leadership (memory and semis). I expect that rotation to continue in the summer …

Added to these longs: * $AMZN $227.69 * $GOOGL $341.53 Position: AMZN (S), GOOGL (S)

As I wrote yesterday, it is astonishing that the markets have, until recently, ignored the clear transformation from capital light to capital intensive occurring in most Mag 7 constituents. Hyperscalers (“check writers”) vs. Chips (“check receivers”): Remember the debates with some subscribers in the Comments Section in which my concerns were dismissed by glibly repeating AI responses to …