Amazon shares climb after Salesforce deal, report it has overtaken FedEx and UPS in deliveries

Takeaways

• Amazon shares rose following a report that it surpassed FedEx and UPS to become the largest U.S. package delivery company.
• The company's deliveries for The full year is expected to exceed 2022 figures by more than 700 million.
• Amazon also expanded its agreement with Salesforce to work with Amazon Web Services, putting the ;focus on artificial intelligence.

Amazon Stock (AMZN) rose 0.7% on Cyber ​​Monday, amid anticipation of a blockbuster day for online shopping and following a report that it exceeded FedEx (FDX) and United Parcel Service (UPS) as the largest package delivery company in the United States.

The Wall Street Journal reported that Amazon had eclipsed UPS last year, after overtaking FedEx in 2020. The newspaper said that before Thanksgiving and the start of the holiday shopping season, the company had already delivered more than 4,000 products. 8 billion packages in the country, and its internal projections estimate that this number would reach 5.9 billion by the end of the year. If this is the case, it would be 700 million more than in 2022.

Amazon shares also got a boost after announcing it was expanding its Amazon Web Services (AWS) partnership with Salesforce (CRM). The company said the deal would “deepen data and artificial intelligence (AI) product integrations and bring select Salesforce products to the AWS Marketplace for the first time.”

Salesforce CEO Marc Benioff, noted that Through the enhancements to the agreement with Amazon, “we are enabling all of our customers to be more innovative, more productive and more successful in this new era of AI. »

With Monday's earnings , Amazon shares hit their highest level since April 2022. Shares of Salesforce rose 0.2%, while shares of FedEx and UPS fell 1.6%.

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Source: investopedia.com