Followers | 686 |
Posts | 142977 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Wednesday, October 11, 2023 8:36:28 AM
By: Zacks Investment Research | October 11, 2023
Amazon (AMZN) is one of the most widely-recognized e-commerce giants, with the company also enjoying a dominant space in cloud computing thanks to AWS (Amazon Web Services).
It’s one of several stocks that have helped lead the market’s surge in 2023, being classified as one of the ‘Magnificent Seven.’
Analysts have taken their earnings expectations higher across the board, landing the stock into the highly-coveted Zacks Rank #1 (Strong Buy).
![](http://staticx-tuner.zacks.com/images/articles/charts/fb/53415.jpg?v=1294303005)
Image Source: Zacks Investment Research
The company resides within the Zacks Internet – Commerce industry, which is currently ranked in the top 26% of all Zacks industries. Roughly half of a stock’s movement can be attributed to its group, helping to clarify the importance of targeting industries with favorable current standings.
Aside from the favorable earnings outlook, let’s take a closer look at a few other characteristics of Amazon.
Current Standing
As mentioned previously, Amazon shares have been big-time performers in 2023, up more than 50% and widely outperforming the S&P 500’s impressive 14% YTD gain on the back of an improved operating environment and a strong consumer.
The company’s success in 2023 has been reflected by its quarterly performance, with Amazon exceeding Zacks Consensus EPS and revenue estimates in three consecutive quarters. In its latest print, the market titan delivered an 85% EPS beat and posted revenue 2% ahead of expectations.
Below is a chart illustrating the company’s revenue on a quarterly basis.
![](http://staticx-tuner.zacks.com/images/articles/charts/aa/53416.jpg?v=1869008279)
Image Source: Zacks Investment Research
The heavyweight is scheduled to reveal its next set of quarterly results near late October. Currently, the Zacks Consensus EPS Estimate of $0.58 suggests a 190% improvement from the year-ago quarter, with our $141.9 billion quarterly revenue estimate implying growth of 11.6% year-over-year.
The revisions trend has been notably bullish for the quarter-to-be-reported, with the $0.58 per share consensus estimate up nearly 50% since July.
![](http://staticx-tuner.zacks.com/images/articles/charts/68/53417.jpg?v=101218708)
Image Source: Zacks Investment Research
In addition, it was recently revealed that Amazon will invest up to $4 billion in Anthropic, an AI safety and research company based in San Francisco and a rival of OpenAI. We’re all aware that AI is Wall Street’s shiny new toy in 2023, constantly dominating headlines.
The deal reflects a partnership to develop reliable and high-performing foundation models, with AWS now becoming Anthropic’s primary cloud provider for critical workloads. Regarding AWS expectations for the upcoming print, the Zacks Consensus Estimate for AWS Net Sales stands at $23.2 billion, 13% higher than the year-ago figure.
As shown below, the company has recently exceeded consensus expectations for AWS Net Sales in back-to-back releases.
![](http://staticx-tuner.zacks.com/images/articles/charts/6e/53418.jpg?v=1067348430)
Image Source: Zacks Investment Research
Bottom Line
Investors can implement a stellar strategy to find expected winners by taking advantage of the Zacks Rank – one of the most powerful market tools that provides a massive edge.
The top 5% of all stocks receive the highly coveted Zacks Rank #1 (Strong Buy). These stocks should outperform the market more than any other rank.
Amazon (AMZN Quick QuoteAMZN - Free Report) would be an excellent stock for investors to consider, as displayed by its Zack Rank #1 (Strong Buy).
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent AMZN News
- Alphabet Unveils AlphaProof and AlphaGeometry 2; OpenAI Tests SearchGPT; Apple Loses Market Share in China • IH Market News • 07/26/2024 10:07:41 AM
- GE HealthCare and AWS Announce Strategic Collaboration to Accelerate Healthcare Transformation With Generative AI • Business Wire • 07/25/2024 12:45:00 PM
- NBA Signs Billion Dollar Broadcast Deal, CrowdStrike Criticized for Insufficient Reward, Honda Shuts Down Chinese Factory • IH Market News • 07/25/2024 10:15:46 AM
- Meta Unveils Llama 3 AI Model, Elon Musk’s X Poll Backs Tesla’s $5B xAI Investment, and More • IH Market News • 07/24/2024 09:53:32 AM
- Johnson Controls Division Sold for $8 Billion; Alphabet’s Offer Rejected by Wiz; AMD President Announces Retirement • IH Market News • 07/23/2024 10:00:52 AM
- Microsoft Shares Drop 2% and CrowdStrike Plunges 21% Pre-Market Following Major Global Outage • IH Market News • 07/19/2024 10:01:22 AM
- Amazon.com to Webcast Second Quarter 2024 Financial Results Conference Call • Business Wire • 07/18/2024 08:01:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/18/2024 02:56:17 PM
- Amazon Announces Record-Breaking Sales for 2024 Prime Day Event • Business Wire • 07/18/2024 01:00:00 PM
- Darden Acquires Chuy’s for $605M, BYND Drops 14% Amid Debt Restructuring, Petco Appoints Ex-Five Below CEO • IH Market News • 07/18/2024 09:59:44 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/17/2024 03:23:05 PM
- HSBC Names New CEO, Tesla Moves Headquarters to Texas, ASML Faces Trade Restrictions, GitLab Considers Sale • IH Market News • 07/17/2024 10:26:41 AM
- Match Group Soars 8% Amid Potential Sale Pressure; Deutsche Bank Anticipates 2Q Loss, and More • IH Market News • 07/16/2024 10:10:09 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/15/2024 08:14:42 PM
- Alphabet Nears $23 Billion Wiz Acquisition, Trump Media Stock Soars 63% Pre-Market, and More • IH Market News • 07/15/2024 10:34:36 AM
- Ericsson Reports 14% Profit Increase, UBS Downgrades Tesla Shares, Ozempic Linked to Reduced Dementia Risk • IH Market News • 07/12/2024 10:28:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/11/2024 08:09:05 PM
- AWS and Workday Expand Partnership to Help Organizations Drive Productivity, Improve Decision-Making, and Develop Generative AI Solutions • Business Wire • 07/11/2024 12:00:00 PM
- Amazon’s 10th Prime Day Event Offers Deep Discounts and Millions of Deals from Top Brands Exclusively for Prime Members • Business Wire • 07/11/2024 05:00:00 AM
- Announcing AWS App Studio, the Fastest and Easiest Way to Build Applications • Business Wire • 07/10/2024 04:55:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2024 08:22:37 PM
- Paramount-Skydance $28B Merger, Boeing Agrees to Plead Guilty with $243.6M Fine, and More News • IH Market News • 07/08/2024 10:37:52 AM
- Tesla Listed for China’s Government Vehicles; Macy’s Acquisition Offer Raised, and More News • IH Market News • 07/05/2024 12:13:34 PM
- U.S. Stocks Close Higher; Nasdaq Outperforms • IH Market News • 07/01/2024 09:10:17 PM
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM