What's Going On With Amazon Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Amazon's stock is in focus ahead of its quarterly earnings. AWS has launched in Israel, with a planned investment of $7.2 billion through 2037, expected to support an average of 7,700 jobs annually. Citi analyst Ronald Josey reiterated a Buy rating on Amazon with a $145 target price, looking for in-line-to-better-than consensus revenue and operating income. AMZN shares traded lower by 1.31% at $131.89.
August 04, 2023 | 10:04 am
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Amazon's stock is under scrutiny ahead of its quarterly earnings. The launch of AWS in Israel and a reiterated Buy rating from Citi analyst could influence the stock.
The launch of AWS in Israel represents a significant investment and potential growth opportunity for Amazon. However, the stock traded lower, possibly due to market factors or anticipation of the upcoming earnings report. The reiterated Buy rating from Citi analyst Ronald Josey indicates positive sentiment, but it's unclear how this will affect the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100