Amazon Shares Soar as Hedge Funds Divide on E-Commerce Giant

Amazon's second-quarter performance was highlighted by a 19.6% year-over-year revenue increase to $200.61 billion, surpassing analyst projections of $197.03 billion.

Earnings per share reached $5.75, exceeding the consensus forecast of $1.82 and providing substantial validation for optimistic investors.

The company's robust financial performance was also supported by its market expansion, with Amazon Web Services (AWS) experiencing five consecutive quarters of accelerating growth.

Despite this, not all hedge funds were bullish on the e-commerce giant, with some significantly reducing their exposure. Bridgewater slashed its position from 4.39M shares to 2.03M, while Pershing Square decreased its holdings from 11.5M to 8.6M.