Amazon Shares Climb After Salesforce Deal and Report It Surpassed FedEx, UPS in Deliveries


Key Takeaways

  • Amazon shares rose following a report it surpassed both FedEx and UPS to become biggest U.S. package delivery firm.
  • The company’s full-year deliveries are anticipate to exceed 2022 figures by over 700 million.
  • Amazon also expanded an agreement with Salesforce for work with Amazon Web Services, with a focus on artificial intelligence.

Amazon (AMZN) shares rose 0.7% on Cyber Monday amid anticipation of a blockbuster day for online shopping and following a report that it surpassed FedEx (FDX) and United Parcel Service (UPS) as the biggest package delivery company in the U.S.

The Wall Street Journal reported that Amazon eclipsed UPS last year, after overtaking FedEx in 2020. The paper said that prior to Thanksgiving and the start of the holiday shopping season, the company had already delivered more than 4.8 billion packages domestically, and its internal projections estimated that the number would reach 5.9 billion by the end of the year. If it does, it would be 700 million more than in 2022. 

Amazon shares also got a boost after the announcement that it is expanding its Amazon Web Services (AWS) partnership with Salesforce (CRM). The company indicated the agreement would be “deepening product integrations across data and artificial intelligence (AI), and for the first time offering select Salesforce products on the AWS Marketplace.”

Salesforce CEO Marc Benioff noted that with the enhancements to the deal with Amazon, “we’re enabling all of our customers to be more innovative, productive and successful in this new AI era.”

With Monday’s gains, Amazon shares reached their highest level since April 2022. Shares of Salesforce were 0.2% higher, while FedEx and UPS shares were 1.6% lower.

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