#1 - Amazon.com (NASDAQ:AMZN)
One of the more intriguing earnings reports for investors to consider will come from Amazon.com Inc. (NASDAQ: AMZN). There’s a sum-of-its-parts story developing around Amazon. In 2021, the focus was on the company’s e-commerce unit which thrived in a socially distant world.
But that masked the strength of Amazon Web Services (AWS). This makes Amazon a player in areas such as cloud computing, analytics, machine learning, and AI. It also made AMZN stock one of the Magnificent 7 stocks that thrived in 2023, even as the e-commerce side of the business saw slower growth.
But this is looking to be a time when both sides of the business begin to click at the same time. AMZN stock is up 20% in 2024, but it’s down about 5.5% in July. That's not a huge dip, but it may be the largest that investors can expect. If the company delivers a bullish print as is widely expected, analysts are currently forecasting a 20% increase in the stock price and that could move higher.
About Amazon.com
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
Read More - Current Price
- $213.44
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 42 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $236.20 (10.7% Upside)
