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Consumer Discretionary : Broadline Retail | Large Cap Growth
Company profile, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content that it purchased for resale and products offered by third-party sellers. It manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, and Ring, and it develops and produces media content. It also offers subscription services such as Amazon Prime, a membership program. Its segments include North America, International and Amazon Web Services (AWS). The AWS segment consists of global sales of compute, storage, database, and other services for start-ups, enterprises, government agencies, and academic institutions. It provides advertising services to sellers, vendors, publishers, authors, and others, through programs, such as sponsored advertisements, display, and video advertising. Customers access its offerings through websites, mobile applications, Alexa, devices, streaming, and physically visiting its stores.

Day's Change
-4.60 (-3.40%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 31,661,034 shares is on pace to be much greater than AMZN's 10-day average volume of 57,308,520 shares.


Amazon boasts 'untapped potential' that could propel its stock higher, says analyst

8:38 am ET May 31, 2023 (MarketWatch)

By Emily Bary

Bernstein analyst dubs Amazon's stock his new top pick in the internet sector

In a sea of Big Tech outperformers, Inc.'s stock still stands out as particularly attractive.

That's according to Bernstein analyst Mark Shmulik, who dubbed the name his "top pick" among internet stocks this week despite a 45% year-to-date rally.

Yes, Amazon shares (AMZN) have seen some strong recent momentum, Shmulik wrote, but they've also given back essentially all their pandemic-era gains. He wrote that he sees Amazon's story as "one of untapped potential" with room for improvement in both the retail and AWS cloud-computing businesses.

Amazon is holding market share in its retail business, according to Shmulik, and the company's operating margins seem to be "turning the corner." While Amazon's U.S. retail business boasted 4% margins before the pandemic, he wondered whether high-single-digit or even 10% margins might be possible down the line.

There's even the potential for Amazon's U.S. gross merchandise volume, or the value of goods sold on its platform, to eclipse Walmart Inc.'s (WMT) U.S. sales this year, he noted, as he lifted his price target on Amazon shares to $140 from $125 and kept his outperform rating.

See also: Amazon's stock is misunderstood for these 3 reasons, according to an analyst

In its cloud business, Amazon has been stung by the "triple cocktail of optimization + discounts + exposure to unprofitable tech" as customers have become more cautious in the current environment. But Shmulik thinks AWS "is about to bottom before returning to growth," with a strong backlog.

See more: Amazon catches a storm in the cloud, but 'significant fear' may mean opportunity

Additionally, AWS margins could come to benefit from recent staffing reductions and other moves to reduce employee-related expenses, like hiring freezes and reduced compensation.

Shmulik also saw some newer, unappreciated areas that Amazon could tap into in a big way going forward. Its Buy with Prime business, which transfers Prime membership benefits to other participating sites, represents a $30 billion to $50 billion opportunity for the company, in Shmulik's view. And the company's media business is compelling, with the potential to grow advertising revenue at an 18% compound annual growth rate through 2026, by his math, coming off a $38 billion base.

Don't miss: Alphabet stock cruises toward best month in 3 years as it ups the ante in AI

-Emily Bary

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 31, 2023 08:38 ET (12:38 GMT)

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