It's that time of year again, the digital equivalent of Black Friday.

Amazon, the world's largest online product ordering service and one of the world's largest internet services companies, is hosting its annual 'Prime Day', which is a shopping bargains bonanza aimed at the company's Amazon Prime subscribers.

The format is quite simple. What began as a one-day event, in which substantial discounts are available on a whole host of items from many suppliers globally, including electronics, home appliances, fashion and beauty products, has now been extended to take place over two days. From today, July 11, until tomorrow, July 12, Amazon will run its highly successful event for the eighth consecutive year.

As reported by FXOpen last week, the amount of revenue that these two days generate for Amazon is stratospheric and has been increasing in recent years. Amazon's precise calculations show that it will likely be another revenue-boosting extravaganza this year; however, this morning, the stock markets begin their day with Amazon shares down considerably over yesterday's value.

This is a very strange circumstance. Moreover, on Friday last week, Amazon stock took a drop from $130.92 early in the New York session to $126.92 by the close of business, placing it at the lowest point in 5 days.

What Events Will Affect the Market Going Forward?

As the day progresses, Amazon's revenue generated by its online shopping division is likely to record a huge amount of revenue, which will continue tomorrow during this two-day event.

If 2022's figure can be used as a yardstick, the company had its most revenue-positive Prime Day since it launched the occasion. On Prime Day in 2022, the company generated $12 billion in extra revenue in just two days. Online sales grew by 141% during last year's Prime Day.

Should this year's event be as productive or perhaps even more productive, it will be interesting to see the effect it may have on the share price.

It could boost share prices purely because revenue means profit, and profit is a cold, hard figure that drives company valuations among these established big-cap corporations.

The other possibility is that investors and analysts already built into their forecasts and estimations the potential revenue generated by this year's Prime Day, and the lower share value compared to last week is symptomatic of building that in and then looking at wider market issues surrounding Amazon's stock.

Those who can cast their minds back to the end of last year will remember the mass staff layoffs and negative numbers experienced by Amazon despite the euphoria that a record-breaking Prime Day had brought the company just a few months beforehand.

Yes, Amazon has a 'data monopoly' to some extent through its AWS cloud hosting service, which is used by most financial institutions for reporting to regulators, but the company also is not short of competition. It is a giant, but it is a giant in a world of giants, and that is not an easy world at all.

Only after the bonanza, which is Prime Day, has concluded will the real picture show itself in the form of a line on the charts.

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