Amazon share price: what’s the latest as Fox Corp agrees multi-year deal?

The US-based technology giant saw its share price edge higher after Fox Corporation agreed to a multi-year deal that will see it use Amazon Web Services for its cable and satellite broadcasting.

Amazon saw its share price edge higher over the last two sessions after partnering with Fox Corporation to help reinvent its media content delivery.

The multi-year deal will see Fox use Amazon Web Services (AWS) to build an 8K capable media platform to create, produce and deliver live and on demand content, representing the latest tie-up between a major tech company and big media organisation.

‘FOX’s media platform is pioneering the delivery of live content using AWS’s unmatched breadth of functionality and highly reliable infrastructure to usher in a new model for content delivery that will drive operational efficiency and greater agility,’ Vice President and Chief Technology Officer at Amazon Werner Vogels said.

The financial terms of the deal were not disclosed.

Amazon’s share price is trading at $1,781 as of 15:30 GMT on Thursday, with it up 15% since the beginning of the year.

Looking to trade Amazon and other tech stocks? Open a live or demo account with IG.

Analysts see further gains in sight for Amazon

The 45 analysts offering 12-month price forecasts for Amazon have a median target of $2,180 for the stock, with a high estimate of 2,573.40, according to data compiled by CNN Business.

Based on Amazon’s current share price, the median target and high estimate represents a potential upside for the stock of between 22% to 44.5%

You can go long or short Amazon with IG using derivatives like CFDs.

‘Jeff Bezos wants a culture of constant innovation and improvement to flow right through the group,’ Analysts from Hargreaves Lansdown said, commenting on its third quarter results.

‘While there's been numerous failures along the way (billions of dollars' worth, in fact) successes like [AWS] business have outweighed the failures many times over.’

‘After being given the freedom to create a solution and run with it, it's since morphed into a $25bn+ business specialising in cloud computing.’

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.