Positive: Amazon and Tesla exceed expectations in Q3, showing strong post-earnings momentum and growth potential.

From Nasdaq: 2024-11-25 02:33:00

The Q3 reporting cycle for major companies like Tesla and Amazon has ended. Amazon exceeded EPS and sales expectations, with AWS sales growing 19% to $27.5 billion. Tesla saw higher profitability with a gross margin of 19.8%. Both companies have seen positive post-earnings momentum and raised analyst expectations. Tesla holds a Zacks Rank #1 (Strong Buy) while Amazon has a Zacks Rank #2 (Buy). Analysts predict strong growth for both companies in the upcoming fiscal year. Tesla’s recent success is partly attributed to the U.S. election, while Amazon’s AWS results confirm its dominant stance in the cloud computing market. Investors are encouraged to look at Zacks’ top stock picks, with the potential for gains of +100% or more in the coming months. Director of Research Sheraz Mian highlights one stock with significant growth potential. For more information, visit Zacks.com.



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