RIVN - Still Time Left To Buy Amazon On Its Path To $360 By 2026
2024-04-09 17:25:38 ET
Summary
- Amazon.com, Inc. has been running hot with 81.6% return in a span of 12 months, driven by fundamental improvements.
- The Q4 earnings report showed strong double-digit growth across all segments amid strong holiday season and continuous business investment.
- The end of 2023 and the beginning of 2024 mark a transitory year, with the company's laser focus on improving profitability and becoming more efficient.
- Trading at 20x its P/OCF, the company is undervalued compared to historical standards, with growth not showing weakness.
The last time I covered Amazon.com, Inc. ( AMZN ) in December, writing an article on the company's path to $220 share price by 2024, I was challenged by many SA readers that I was too optimistic on my revenue growth and EPS assumptions.
While I am hesitant to declare victory just yet, the stock is in a clear upward trajectory, returning 21% in a span of less than four months, not only driven by general market sentiment, but by fundamental improvements in its profitability, lower cost to serve customers, AI integrations in AWS and more....
Still Time Left To Buy Amazon On Its Path To $360 By 2026