Positive.

From Nasdaq.: 2024-04-29 08:15:00

Seattle-based Amazon.com, Inc. AMZN is a top e-commerce and cloud computing player, valued at over $1.8 trillion. Its shares surged by 19.1% in Q1 2024, exceeding the industry’s gain. Analysts predict strong earnings growth, driven by AI initiatives and a thriving advertising business which saw a 24% increase in 2023.

Amazon’s stock recently hit an all-time high but has since been trading in a narrow range. Forecasts suggest significant earnings and revenue growth for the year ahead, fueled by increasing ad revenues and AI expansion. The company’s recent investments in AI startups position it well against competitors like Microsoft and Alphabet.

Despite being a pricey stock, Amazon boasts strong profitability metrics and a Zacks Rank #2 (Buy). With expected growth rates in earnings and revenue, along with positive analyst sentiment, Amazon is poised for further success. The company’s cost-cutting measures and forward-thinking strategies make it a market darling, promising potential for further stock gains.



Read more at Nasdaq.: What Makes Amazon (AMZN) Attractive Ahead of Q1 Earnings?