Amazon Stock: A Bullish Outlook
Strong Analyst Consensus
AMZN stock quote prices financial information real-time. The 46 analysts with 12-month price forecasts for Amazon stock have an average target of 19311 with a high estimate of 24000 and a low estimate of 15400. The median price target is 19200.
Impressive Earnings Report
CNN reported that Amazon is starting the year back in the black. The e-commerce giant on Thursday reported fourth-quarter net income of $14.3 billion, or $3.73 per share, compared with $11.6 billion, or $2.84 per share, a year earlier. Revenue rose 24% to $149.2 billion from $121.2 billion a year ago.
Defying the Tech Earnings Slump
Amazon's strong earnings report stands out in the context of recent disappointing earnings from other tech giants. This has led analysts to believe that Amazon is well-positioned to continue its growth trajectory despite the challenging economic environment.
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