Here's why some Big Tech names are moving lower after earnings
Mark Mahaney of RBC Capital Markets and Brent Thill of Jefferies discuss Big Tech earnings. I think Amazon delivered on what the bulls wanted, says Mahaney, but not more than what the bulls wanted. And the one negative was the outlook for operating profit in the fourth quarter. It was below expectations. When all is said and done, this company is going to have spent something like $11 billion on Covid-related costs. That should set them up for operating margin expansion going forward.