By Sebastian Herrera
Amazon.com shares are surging in response to the U.S. and China temporarily rolling back tariffs.
Amazon's stock was up about 8% Monday, trading at more than $208 a share.
The positive response is a reprieve after investor concern loomed over the company, whose retail operations have become heavily dependent on Chinese goods. Many of Amazon's third-party sellers who use its site source their products from China. Independent merchants responded to tariffs by hoarding inventory and warning that prices could skyrocket if tariffs continued. Some said their businesses would cease operations.
Earlier this month, Amazon Chief Executive Andy Jassy said the company hadn't seen the average selling price appreciably increase or demand slip, but it gave a cautious outlook for its second quarter because of the economic uncertainty.
Amazon has been shielded in part due to its diversification. Its cloud-computing arm Amazon Web Services is by far its most profitable business, and the company also made roughly $56 billion in advertising revenue last year. It made about $156 billion from a logistics business that aids sellers in moving, packing and shipping their products.
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(END) Dow Jones Newswires
May 12, 2025 13:37 ET (17:37 GMT)
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