From Nasdaq: 2024-04-28 10:00:00

In just under a week, Amazon.com (NASDAQ: AMZN) stock is set to report Q1 2024 financial results with analysts forecasting earnings nearly tripling to $0.85 per share. BMO Capital’s Brian Pitz predicts a 20% stock price increase to $215 within a year, citing growth in Amazon’s e-commerce and AWS businesses.

Amazon’s primary revenue sources are its e-commerce business, generating over $484 billion in revenue but less than $15 billion in profit, and AWS, with over $90 billion in sales and nearly $25 billion in profit, boasting a 27% profit margin. Analysts are optimistic about the growth potential of these businesses driving Amazon stock.

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Read more at Nasdaq: Amazon.com Stock Has 20% Upside, According to 1 Wall Street Analyst