MELI - Amazon posts big rally after earnings and helps lift Shopify Wayfair and Etsy

Amazon (NASDAQ:AMZN) raced higher on early Friday trading after the e-commerce giant's price hike for the Prime service and strong AWS numbers set a positive tone with investors. Profits rose to $14.3B in Q4 for from $7.2B a year ago, with an $11.8B pre-tax gain on the AMZN stake in Rivian Automotive being a major factor. Operating income for the quarter also impressed at $3.5B. On Wall Street, JPMorgan lifted its price target on Amazon (AMZN) to $4,500. "Looking into 2022, certain macro pressures will remain & Omicron will create further disruption, but with greater normalization we believe AMZN can see a path out of certain elevated labor costs and a wave of positive comments came in from other analysts," noted analyst Doug Anmuth. "We continue to expect revenue growth to re-accelerate beginning in 2Q as comps ease & Prime 1-day/same-day benefits increase, and we also believe AMZN’s investments will slow

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Amazon posts big rally after earnings and helps lift Shopify, Wayfair and Etsy