MarketWatch First Take: Amazon cuts jobs to reset tech giant after monster growth in the pandemic, but investors still worried

Excited fair-haired girl fooling around with boyfriend at home. Good-humoured brunette man dancing with wife.

Wall Street analysts are applauding the cost-cutting moves by two technology giants in the last two days amid a major slowdown in revenue, but investors appear to be more worried about Amazon, where its highly profitable and big-growth cloud business has helped cushion it in the past.

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