$AMZN 👀👀 for a company this size to make such moves is crazy.
Many of the big (tech) names have lately been swinging wildly in either direction after earnings. I guess it can be understood a bit; a miss (think NFLX, PYPL, FB) reminds investors that higher rates are coming and it can only get worse. A beat (GOOGL, AMD, AMZN, SNAP) makes them think things are not so bad after all, and this company can manage even in a higher rate environment.
But it just boggles the mind how fickle equity investors are. The whole miss and beat is totaly arbitrary, as the expectations are based on the companys own projections. What is stopping a company from setting the bar low, only to come out and 'beat' expectations and have the stock soar?