Amazon Chip Division Hit By Second Senior Exit In Months - Amazon (NASDAQ:AMZN)
Published on March 27, 2026.
Amazon (NASDAQ:AMZN) has experienced the second senior employee in its Chip Division, Gadi Hutt, leaving Annapurna Labs, an Israeli semiconductor startup that Amazon acquired in 2015 for about $350 million. The company's shares are currently trading 2% below their 20-day SMA and 8.4% below its 100-day sMA, indicating a technically defensive posture across multiple timeframes. The next major catalyst for the stock is the estimated April 30, 2026 (estimated) earnings report. The stock carries a Buy Rating with an average price target of $287.24.
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