Amazon Stock ( NASDAQ:AMZN )
Amazon stock jumped as much as 6.1% on Tuesday morning. The stock was 5.2% higher at 12:53 p.m. ET.
Even if the general market rally on Tuesday had a role in the e-commerce giant’s price increase, it was not the only one.
What’s the Reason
J PMorgan analyst Doug Anmuth said the online group is showing “growing interest in certain names” despite the difficulties caused by the present macroeconomic environment since the recent market drop has made several appealing stocks buy more accessible. Amazon ( NASDAQ:AMZN ) is still his “greatest concept” in the industry and represents one such possibility.
The analyst believes that Amazon ( NASDAQ:AMZN ) will accelerate its year-over-year revenue growth, expand its margins, and reduce its capital spending, all of which will drive “significant” free cash flow growth into next year despite the macro backdrop, unfavorable exchange rates, and overall underperformance of internet-related stocks.
As Amazon becomes a more formidable player in digital advertising, an analyst at Bank of America, Justin Post, has cut his price predictions for both Meta Platforms and Alphabet.
What Should You Do Now?
Both experts have valid arguments to offer. After Amazon’s huge e-commerce profits during the epidemic, investors generally wrote off any future expansion. Amazon ( NASDAQ:AMZN ) CFO Br...
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