On December 22, a brief power outage was reported at one of Amazon’s (NASDAQ: AMZN) data servers on the U.S. East Coast, according to Reuters.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
As a result, various apps and websites, including streaming service Hulu, office messaging app Slack, and Epic Games, were temporarily hit.
Details
Slack mentioned that its file uploads, message editing and other services faced problems.
Amazon stated that its platform that provides computing capacity to cloud networks operated by its unit, Amazon Web Services (AWS) was impacted by the outage.
However, all the services were up and running after some time. Amazon Web Services stated, “The issue has been resolved and the service is operating normally.”
Earlier this month, one of the FAANG Stocks Netflix (NASDAQ: NFLX) was hit by a major outage in the same region. Furthermore, Disney+, trading app Robinhood and Amazon’s E-commerce website were also impacted at that time.
Analysts Recommendation
On December 14, UBS Analyst Lloyd Walmsley reiterated a Buy rating on Amazon with the price target of $4700 (37.4% upside potential)
Consensus among analysts is a Strong Buy based on 30 unanimous Buys. The average Amazon stock price prediction of $4,127.50 implies 20.82% upside potential to current levels.
Smart Score
Amazon scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
Related News:
BlackBerry Beats Q3 Earnings Expectations; Shares Down
Moody’s Upgrades Apple’s Long-Term Credit Rating to ‘AAA’
Sempra to Sell 10% Interest in Sempra Infrastructure Partners for $1.8B
