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Analysts are increasingly optimistic about Amazon.com Inc. ($AMZN) ahead of its second-quarter earnings report scheduled for August 1, 2024. Wells Fargo has identified Amazon as the most favored long position among mega-cap stocks, anticipating an 18% increase in Amazon Web Services (AWS) revenue for the second quarter. The bank also projects operating income guidance of $16 billion for the third quarter. Loop Capital has reiterated a Buy rating for Amazon, setting a price target of $225, citing strong potential for advertising growth that extends beyond traditional channels. Analysts expect a positive performance based on various indicators, including North American sales data and growth in the advertising sector.
$AMZN Truist We remain constructive on AMZN ahead of 2Q24 earnings slated for 8/1 expecting a beat based on 1) our tracking of NA sales using the Truist Card Data; 2) positive checks into the ads business; 3) our expectation for further growth acceleration at AWS, and 4)…
Wells Fargo: Amazon most favored long among mega-caps going into earnings WF expects 18% increase in Amazon Web Services (AWS) revenue for the second quarter, with a sufficient operating income (OI) guidance of $16 billion for the third quarter For Meta, a $40 billion revenue…
Wells Fargo: Amazon $AMZN most favored long among mega-caps going into earnings https://t.co/ArysAGrF2F https://t.co/b9QUcEAsqQ
