Amazon.com Inc. is navigating another senior exit from its Annapurna Labs chip division, raising questions about leadership continuity as it scales its Trainium AI chips to compete with Nvidia Corp..
Gadi Hutt, director of product and customer engineering, has left Annapurna Labs, according to The Information, citing people familiar with the matter.
Hutt was among the early team members at Annapurna Labs, the Israeli semiconductor startup that Amazon acquired in 2015 for about $350 million.
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Hutt’s exit marks the second senior leadership departure from Annapurna Labs in the past seven months, the report added. Rami Sinno, another top executive, left the company in August to join Arm Holdings plc, according to the report.
Amazon is trading 2% below its 20-day SMA and 8.4% below its 100-day SMA, keeping the stock in a technically defensive posture across multiple timeframes.
Shares are up 3.07% over the past 12 months and are currently closer to their 52-week lows than to their highs, trading in the $161.38 to $258.60 range.
The RSI is at 44.57, which sits in neutral territory but still reflects softer momentum than a typical uptrend. Meanwhile, MACD is at -1.9862, while the signal line is at -2.2371, a bullish configuration that suggests downside pressure is easing even though the trend remains heavy.
RSI in the 30–50 range with bullish MACD indicates momentum leaning bullish.
Key Resistance: $220.50
Key Support: $202.50
Trending: This Startup Thinks It Can Reinvent the Wheel — Literally
Looking further out, the next major catalyst for the stock arrives with the April 30, 2026 (estimated) earnings report.
EPS Estimate: $1.66 (Up from $1.59 YoY)
Revenue Estimate: $177.20 Billion (Up from $155.70 Billion YoY)
Valuation: P/E of 28.9x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $287.24. Recent analyst moves include:
Tigress Financial: Buy (Raises Target to $315.00) (March 25)
JP Morgan: Overweight (Raises Target to $280.00) (March 25)
Citigroup: Buy (Raises Target to $285.00) (March 25)
First Trust Dow Jones Internet Index Fund (NYSE:FDN): 9.89% Weight
iShares Global Consumer Discretionary ETF (NYSE:RXI): 9.61% Weight
Dana Unconstrained Equity ETF (NYSE:DUNK): 9.10% Weight
