Could This Multibillion-Dollar Bonanza Boost Amazon Stock?
Many Amazon (NASDAQ: AMZN) shareholders probably have two words in mind for 2022: Good riddance. Shares of the e-commerce and cloud-computing giant have plunged nearly 50% this year. It was Amazon's worst decline since the financial crisis of 2008 and 2009.
However, Uncle Sam recently gave the company some good news. Could that multibillion-dollar bonanza boost Amazon's stock?
The U.S. Department of Defense announced last week that it was awarding a contract of up to $9 billion to be split among four tech giants -- Amazon, Alphabet, Microsoft, and Oracle. These companies will be tasked with helping the Pentagon build "enterprisewide, globally available cloud services across all security domains and classification levels" referred to as the Joint Warfighting Cloud Capability.
Source Fool.com
