“Amazon whiffed on its first-quarter earnings, but Wall Street is sticking with the stock.”
“Amazon (ticker: AMZN) stock has plunged 26% in 2022, battered down after its online retailing business and advertising sales came in short of consensus estimates and its outlook disappointed. Still, most analysts remained firm in their conviction in the stock.”
“There have been few — if any — rating changes in the wake of the earnings miss. Of the 52 analysts covering the stock surveyed by Factset, 49, or 94%, continue to rate it a Buy or Overweight. Only two rated it a Hold, and one a Sell as of Monday.”
“Any changes reflecting the challenging near-term environment for Amazon have occurred at the margins. On Monday, Wedbush removed Amazon from its best ideas list due to investment price discipline. Wedbush continues to hold an Outperform rating on the stock and a $3,500 price target. Tech companies such as Apple (AAPL), Alphabet (GOOGL), and Microsoft (MSFT) remained on the list.”
“Amazon’s mean target price has also taken a hit, falling from $4,109.69 on March 31 to $3,703.65 as of Monday, according to FactSet, but still up 49% from Friday’s close of $2,485.63.”
“Regardless, Wall Street remains optimistic about the tech giant’s long-term growth prospects, especially in the advertising and cloud computing segments. Others believe Amazon Prime Day, held in the third quarter this year, as opposed to the second quarter, could be another catalyst.”
“With shares down 3.7% to $2,393.74 on Monday, that bullishness isn’t helping Amazon stock. We’ll see who capitulates first — the market or the analysts.”
If the customers want it that is crypto is here to stay. The market is here to stay for Crypto. It is just a difference from generation to generation. Warren Buffet and Charlie Munger great as they are they are right.
Robinhood responded to Munger’s comments.
They told us we are going to keep rates at zero to 2024 the feds changed their mind. Just print money and you get inflation.
