Amazon Expands Logistics Network to Compete with UPS and FedEx
UPS and FedEx stocks fell 10% after Amazon announced it would open its supply chain services to external businesses, potentially positioning Amazon as a major logistics competitor. The move involves allowing other companies to use Amazon's logistics network, including its fleet of over 100 cargo planes and warehouses. Amazon's initiative is part of its broader growth in services.
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Topics: Amazon FedEx logistics stock market supply chain UPS