Amazon.com, Inc. (NASDAQ:AMZN) will be the one of the key stocks to watch on Cyber Monday. Last year, customers on Amazon's site ordered over 180 million items during the five-day period starting with Thanksgiving through Cyber Monday.
Online sales rose more than 19.6% to $7.4 billion on Black Friday, marking the day's largest revenue grab ever, according to Adobe Analytics, which tracks transactions at 80 of the top 100 U.S. retailers. For Thanksgiving, it estimated web sales grew 14.5% to $4.2 billion, while Small Business Saturday and Super Sunday sales are projected to surpass $7.6 billion.
Other glad tidings to come out Jeff Bezos’ company; cloud server unit Amazon Web Services has designed a new and powerful data center processor chips. This is the latest move by the company to invest in custom silicon for its cloud services business.
The company announced last year the launch of the ARM-based processor known as Graviton. The low-cost processor is optimized for enhanced performance in computing. According to people familiar with the matter, the latest processor chips are almost 20% faster compared to the first-generation ARM chips.
The new AWS chip employs technology from British company ARM Holdings owned by Softbank Group. The chips will use the Neoverse NI tech and will have around 32 cores, which are almost double ARM’s previous chips.
The company is looking to compete on the market that is currently dominated by Advanced Micro Devices (NASDAQ: AMD) and Intel Corp (NASDAQ: INTC).
Shares dropped $4.31 to $1,798.21
