Amazon Is Becoming A 'Gen AI And Media Business': 6 Analysts Break Down Q3 Earnings
Portfolio Pulse from Priya Nigam
Amazon.com, Inc. (NASDAQ:AMZN) reported strong Q3 results, with shares continuing to climb. Analysts from Telsey Advisory Group, Goldman Sachs, Needham, Oppenheimer, Morgan Stanley, and William Blair all maintained positive ratings, with several raising their price targets. Key takeaways include double-digit sales growth in the U.S. and internationally, stabilization of AWS, and a shift towards generative AI. Amazon's Q3 operating income of $11 billion exceeded expectations.
October 27, 2023 | 3:06 pm
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Amazon's strong Q3 results and positive analyst ratings are likely to continue driving its stock price up in the short term.
Amazon's strong Q3 results exceeded expectations, with double-digit sales growth in the U.S. and internationally, and stabilization of AWS. This positive news, along with the company's shift towards generative AI, has been well received by analysts, which is likely to continue driving its stock price up in the short term.
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