Amazon stock is up 22% YTD, but currently trading 13% below fair value
From Nasdaq: 2024-05-06 20:26:39
Amazon’s stock has gained 22% YTD, outperforming the S&P 500. However, it is currently trading 13% below its fair value of $213. In Q1 2024, the company reported a net sales increase of 13% y-o-y to $143.3 billion, with net income jumping from $3.2 billion to $10.4 billion.
For FY2023, Amazon’s top-line grew 12% to $574.8 billion, driven by growth in all segments. The company expects Q2 2024 sales to be between $144 billion to $149 billion, with forecasted revenues around $641.4 billion for the year and a net income of $43 billion.
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Read more at Nasdaq: Amazon Stock Is Up 22% YTD, What’s Next?