What's Going On With Amazon Shares

Amazon.com, Inc. AMZN shares are trading lower by 3.68% to $116.16 during Wednesday's pre-market session. The stock is possibly falling in sympathy with FAANG, mega-cap U.S. tech stock peers Microsoft Corporation MSFT and Alphabet Inc GOOG GOOGL following quarterly results.

What Happened?

Microsoft shares are trading lower by 6.76% to $233.71 Wednesday morning despite the company reporting better-than-expected first-quarter EPS and sales results.

Microsoft reported first-quarter revenue of $50.1 billion, up 11% year-over-year. The total beat an estimate of $49.8 billion from analysts, according to data from Benzinga Pro.

The company reported earnings of $2.35, which beat estimates of $2.32 from analysts.

“In a world facing increasing headwinds, digital technology is the ultimate tailwind,” Microsoft CEO Satya Nadella said...Read More

Meanwhile, Alphabet said third-quarter revenue increased 6% year-over-year to $69.09 billion, which missed average analyst estimates of $70.91 billion, according to Benzinga Pro.

Alphabet's Search division generated $39.54 billion, YouTube ads totaled $7.07 billion and the Google Network division added $7.87 billion within the Google Ad segment...Read More

According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.