UPS (UPS) CEO says Amazon (AMZN) accounted for 8.8% of its business at end of Q1, down from a high of more than 13%

UPS's CEO indicating that Amazon represented only 8.8% of its business at the end of Q1, down from over 13%, suggests a significant dependency reduction. This trend could reflect Amazon's increased in-house logistics capabilities or a broader shift in shipment dynamics, impacting UPS's revenue outlook and competitive landscape. Traders should consider how this decline may affect UPS's growth projections and market positioning compared to logistics peers.