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TechCheck

The Amazon Bull Case Under Trump 11/14/24

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.856 Ratings

🗓️ 14 November 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

Shares of Amazon have seen a boost since Donald Trump was elected, but the e-commerce giant has had a tense relationship with the President-elect. Will it fare better during his second time in the White House?

Transcript

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0:00.0

Amazon shares are up 8% since Donald Trump was elected, but the company has had a tense relationship with the president-elect.

0:07.1

R. Kroon, he's taking a deeper look into what a second time in the White House might mean for the e-commerce giant this morning.

0:12.6

Hey, Kate.

0:13.5

Hey, Carl. Yeah, so there's a lot to really consider and to handicap for what president-elect Trump might mean for Amazon.

0:19.8

But this time around a key piece of friction

0:22.3

with the company.

0:23.1

And Trump has been eased.

0:24.9

That is the relationship with Jeff Bezos, as Amazon's founder.

0:28.6

He's no longer CEO, and he's seemingly buried the hatchet at this point, congratulating

0:32.9

Trump on what he called an extraordinary political comeback and decisive victory in pushing the controversial move at his newspaper, The Washington Post, to not endorse a presidential candidate just weeks before the election.

0:45.7

Bezos was an outspoken critic of Trump.

0:48.5

You might remember that who accused Amazon of not paying its fair share of taxes and then abusing the postal system,

0:54.5

hurting small businesses, and other criticisms.

0:57.1

There was also the Pentagon contract that ended up going to Microsoft, which Amazon sued

1:01.1

over saying that was a result of bias in the White House.

1:04.1

Trump slammed Bezos-owned Washington Post as well.

1:07.4

Many times, analysts that I'm talking to say this relationship can only get better from

1:11.5

here. They hope that the current CEO, Andy Jassy, is more diplomatic, a little less controversial,

1:16.3

and less of a target for Trump. Jassy also took to X and to social media to congratulate Trump as well.

1:22.0

And despite some tough rhetoric we've heard around tech and big tech, Dan Ives at least thinks that

1:26.8

Amazon could be more immune

1:28.0

from a lot of that criticism because it is not a social media company. Companies like Meta and Google

...

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