Amazon Stock Slips Over 1% Premarket: Tech Giant Commits $4.4B To Expand Asia-Pacific Cloud Reach In New Zealand

2025-09-02 09:01:02

(MENAFN- AsiaNet News)

Amazon stock moved lower in Tuesday's early premarket session, after it fell 1.12% last Friday before settling at $229.

The stock has traded within a 52-week range of $161.38 to $242.52, which is its all-time high on an intraday basis.

Tuesday's premarket weakness comes amid a worsening of sentiment toward mega-cap stocks with exposure to technology. Amazon's public cloud business - Amazon Web Services (AWS) – announced in a blog post on Monday the general availability of the AWS Asia Pacific (New Zealand) Region with three Availability Zones and API name ap-southeast-6.

With the new region, customers can now run workloads and securely store data in New Zealand while serving end users with even lower latency.

AWS has made a NZ$7.5 billion ($4.4 billion) investment to establish the AWS Region in New Zealand. The service is expected to contribute NZD $10.8 billion ($6.3 billion) to New Zealand's gross domestic product (GDP), create 1,000 new jobs annually, and enable Kiwi organizations of all sizes to innovate and scale faster using the most secure and resilient infrastructure.

Amazon's AWS business contributed $30.87 billion to the company's top line results in the second quarter and its generated an operating income of $10.16 billion. AWS is among the frontrunners among the cloud service providers, although it faces an increasing threat to its lead position from Microsoft's Azure and Alphabet's Google Cloud Platform.

Separately, Amazon announced that the Prime Invitee Program, which allowed Prime members to share their fast, free delivery with others, will end on October 1, 2025.

On Stocktwits, retail sentiment toward Amazon stock remained 'bearish' (31/100) by early Tuesday, with the message volume at 'low' levels.

AMZN sentiment and message volume as of 5:45 a.m., Sept. 2 | source: Stocktwits

Amazon stock has gained just over 4% this year. The Koyfin-compiled analysts' consensus price target for Amazon stock is $263.18, implying nearly 15% upside from Friday's close.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

MENAFN02092025007385015968ID1110005934

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.