TwinsTalkStocks 8 year old twins, Ashay Jorel and Devin Kalel, “face-off” old tech (MSFT) vs new tech (AMZN)
After the bell today, MSFT and AMZN both reported earnings. Earlier in the trading day AMZN climbed $52 (8.91%) then tanked $85.35 (13.43%) due to a revenue and sales miss. On the other hand, MSFT increased 4.22% after-hours.
MSFT is closing the gap on the cloud with AMZN. Amazon Web Services (AWS) started in 2006. MSFT Azure started 4 years later in 2010. Azure increased their revenue by 140%. AWS increased by 70% in comparison, 1/2 the growth increase of Azure.
The cloud market is huge. Will MSFT continue to close the gap the next few quarters?