2024-07-13 04:01:59 ET
Summary
- In today's article, I provide a brief review of Amazon's latest events and forecasts for Q2 2024, for which the company is expected to report in 2 weeks.
- Analysts have raised EPS estimates for Amazon's Q2, making it more challenging to beat expectations, but the company's strong performance in Q1 suggests a potential beat.
- Despite Jeff Bezos selling shares, Amazon's fundamentals remain strong, with potential for growth and innovation in various sectors.
- Amazon stock may be still undervalued by ~23.7% based on my DCF fair value calculation.
- I reiterate the "Buy" rating for AMZN today.
Introduction
I first wrote about Amazon Inc. ( AMZN ) stock at the beginning of February 2021 and issued a buy recommendation. Since then, my ratings have fluctuated between "Buy" and "Hold", depending on market developments and my assessment of the company's nearest prospects. My last 2 articles were "Buy" and I'm delighted that Amazon has outperformed the index since the end of January by a really wide margin (taking into account the company's size)....
Read the full article on Seeking Alpha
For further details see:
Amazon's Q2 Will Likely Surprise You