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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 254.00+4.0%9:30 AM EST
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From: Julius Wong12/16/2022 9:42:50 AM
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Amazon stock’s 2022 slump presents ‘compelling opportunity’ for investors - JPM

Dec. 16, 2022 9:09 AM ET
Amazon.com, Inc. (AMZN)
By: Kevin P. Curran, SA News Editor
5 Comments

HJBC

JP Morgan remains bullish on the long term prospects for Amazon (NASDAQ: AMZN) despite a nearly 50% slide for shares in 2022.

Equity analyst Doug Anmuth advised clients that while macroeconomic concerns and uncertainty on the cloud business’ trajectory, the secular tailwinds for the business remain intact. As such, the stock’s steep slide this year “creates a compelling opportunity” for investors.

“We believe Amazon's flexibility in pushing first-party vs. third-party inventory and its Prime offering both serve as major advantages in its retail business, and its multi-year head start in the cloud has led to a 40%+ AWS global market share,” Anmuth wrote. “Amazon is also starting to show more profit, with its high growing AWS and Advertising revenue streams also its most profitable.”

To be sure, the near term headwinds tempered his optimism in terms of a price target as his fourth quarter revenue and margin estimates were reeled in. Anmuth assigned a $130 price target to the stock, down from a prior $145.
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