Amazon to report 1Q earnings after the close. What is expected?

Amazon will release its first-quarter earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term after the market closes. Wall Street Wall Street Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Read this Term expects the following:

• Earnings: 21 cents per share
• Revenue: $124.5 billion
• Amazon Web Services: $21.22 billion
• Advertising: $9.08 billion

CEO Andy Jassy has been aggressively cutting costs across the company, announcing layoffs of another 9,000 employees on top of the prior 18,000 job cuts. The company faces slowing sales growth, including in its cloud unit, Amazon Web Services (AWS), which has historically experienced rapid revenue expansion. AWS growth is expected to come in at 13% in the first quarter.

Jassy is winding down some of Amazon's more unproven bets and slowing warehouse expansion. The company recently announced it would stop selling its line of Halo health and fitness devices and disband the team working on the project. Amazon is also dealing with decelerating growth in its core retail segment as the Covid pandemic-fueled e-commerce boom fizzles out and consumers become more cautious with their discretionary spending amid rising food and gas prices.

Technically, looking at the daily chart, the price has moved above the 200 day moving average today. That level comes in at 106.79. Looking back in time, the last times the price has moved above the 200 day moving average, it didn't take long for the price to rotate back to the downside.

Will the earnings propel the price up toward the February 2 high near 113.93, and thentoward the 38.2% retracement of the move down from the November 2021 high at $122.14?

Or

Will the earnings send the price back below the 200 day moving average once again and back toward its 100 day moving average at $95.93?