AMZN has fallen about 10% in the last two weeks. With earnings on July 31, it's tempting to assume the market is pricing in disappointing results or the start of a bigger correction.
I'm not convinced. I think Amazon is likely to at least meet analyst expectations, if not beat them, with AWS expected to remain a major strength.
The date I'm paying closer attention to is August 6. If early investors holding around 900 million SpaceX shares become eligible to sell, a significant amount of capital could be looking for a new home. If some of that money rotates into large-cap tech, AMZN could be one of the biggest beneficiaries.
This is just my personal thesis, not financial advice. Curious to hear if anyone else is looking at the same timeline or sees flaws in this reasoning.