Amazon's shares fell following an earnings report that did not meet Wall Street's expectations, particularly regarding its AWS cloud unit. Analyst Stephanie Link argues that the decline is an overreaction, citing that while the AWS numbers were solid, they fell short of the higher 'whisper' expectations set by analysts.
She also noted confusion around comparisons from Prime Day sales and emphasized that retail demand remains robust. With Amazon trading at a 15 times multiple over GAAP earnings, Link believes this presents a buying opportunity for investors. Following her comments, there has been a rebound in Amazon's shares, indicating that other investors may share her perspective