Cloud leaders Amazon, Google and Microsoft show the once-booming market is cooling down

, customers are showing less confidence in longer-term deals. Amazon reported $110.4 billion in commitments on contracts with original terms longer than one year. That was up 37% from a prior year, a decline from 57% growth in the third quarter.

"We see LT cloud trajectory as bent and not broken," wrote the analysts, who have a buy rating on the stock. Microsoft CEO Satya Nadella speaks at the company's Ignite Spotlight event in Seoul on Nov. 15, 2022.Microsoft said its Azure and other cloud services revenue growthOn the earnings call, Chief Financial Officer Amy Hood said growth in Azure consumption moderated in December. The company expects

Strong hiring in services which keeps up inflation. Fed has to cause a recession to reach services. Hikes already affected goods but doesnt affect services. Recession slows down services spending. But snowball effect will cause an unemployment crisis & deep recession. AI lurking

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Amazon's advertising business grew 19%, while Google and Meta both deal with slowdownsAlthough Amazon's ads business constitutes a small fraction of the $149.2 billion in revenue the company recorded in its fourth quarter, it's growing fast. We have seen up-funnel ads impression declines (less eyeballs) for GGL and Meta whereas Amazon ads are at point of purchase largely. In other words people tightening spending (less searching) but, when they must buy, Amazon still gets ad dollars due to their platform. Market still hated the Q.
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'Dodged bullet': How 'Fast Money' traders are responding to Thursday's Big Tech earningsAmazon, Apple and Google-parent Alphabet all reported after the bell.
Source: CNBC - 🏆 12. / 72 Read more »