Historically, AMZN stock has reacted negatively on the day following its earnings report in 63% of instances over the past five years.

Amazon’s (AMZN) second-quarter results last night exceeded expectations, showcasing the strength and resilience of its core businesses. Yet, the market responded with a sharp selloff, sending AMZN shares down more than 6% in early trading today.

Amazon.com, Inc. (NASDAQ: AMZN) is one of the AI Stocks Investors Should Keep an Eye On. On July 30, Stifel analyst Mark Kelly raised the price target on the stock to $262.00 (from $245.00) while maintaining a “Buy” rating.