
Evercore ISI has designated Amazon (AMZN) as a top stock pick, citing expectations that artificial intelligence (AI) will enhance its market performance. Analyst Mark Mahaney emphasized that Amazon appears attractively valued following a recent decline, prompting him to elevate the online retailer to the No. 1 position among large-cap stocks, while moving Uber to No. 2. The firm expressed strong optimism regarding Amazon Web Services (AWS), highlighting that its AI business is now generating multi-billion dollar revenue at a triple-digit year-over-year growth rate. Despite this positive outlook, some analysts caution that a slowdown in consumer spending on goods may negatively impact Amazon's core e-commerce business, suggesting potential buying opportunities. Additionally, there are concerns about Amazon entering a bear market, as it has not performed well against gold over the past three years.
Amazon (like the rest of the tech sector) peaked versus gold over 3 years ago, and is now breaking down & entering a bear market which is likely to see it lose to gold for many years. https://t.co/GaQhl83GVA
Amazon $AMZN is a buy. Major AI winner on both the application and cloud infrastructure layers. Slowing consumer spend on goods will likely weigh on the core e-commerce business, which may lead to more buying opportunities. Timing this is impossible, so scale out positions over…
$AMZN Evercore ISI names Amazon a top pick Evercore moved Amazon to top pick status and said it’s very bullish on Amazon Web Services. ” AMZN: AWS’ AI business is now a multi-billion dollar revenue run rate business that continues to grow at a triple-digit Y/Y percentage, growing…