UBER - Why Amazon and Uber Stocks Topped the Market on Tuesday
2023-03-07 18:42:41 ET
On quite a down Tuesday for the stock market, both Amazon (NASDAQ: AMZN) and Uber (NYSE: UBER) managed to do better than most titles. The former traded essentially flat across the day, while the latter inched up in price by almost 1%. A glowing report from an influential investment bank helped the two stocks rise above the gloom.
No less an institution than Goldman Sachs (NYSE: GS) tapped Amazon and Uber to head its new list of top internet stock picks. Other familiar tech names making the lineup were Meta Platforms and Google parent Alphabet .
Amazon was Goldman's No. 1 pick for the remainder of this year. Uber made the list despite a nearly 40% rise in share price year to date. The investment bank still thinks the stock has room to run, as it has "produced progress on profit initiatives with stable end demand trends & overall industry competitive intensity."
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Why Amazon and Uber Stocks Topped the Market on Tuesday