EU Regulators Say Amazon, Microsoft Cloud Should Face Tech Rules

Key Facts

1EU regulators state that Amazon and Microsoft cloud computing services should fall under EU tech rules.

Regulatory pressures on tech giants in Europe are mounting, as EU regulators state that Amazon and Microsoft cloud computing services should fall under the bloc's tech rules, according to reports from Investing.com. The statement is part of EU efforts to boost competition and data protection in the cloud market.

AWS and Microsoft Azure dominate a large share of the European cloud market, making these new rules potentially impactful on their business models. The move comes as EU regulators increasingly target digital platforms, similar to the Digital Markets Act (DMA). Per market data, AMZN closed at $234.27 and MSFT at $365.46 on June 24.

AMZN stock may face resistance at $242.42 (June 24 high) while support lies at $232.95. MSFT trades between $378.88 and $364.84. Investors await further details from the EU on the implementation framework, which could impact future cloud segment earnings.