Amazon Stock Cheapest It's Been In Years? Why This Investor Keeps Buying Up Shares
Portfolio Pulse from Adam Eckert
Stephanie Link of Hightower Advisors continues to buy Amazon.com Inc (NASDAQ:AMZN) shares, citing its attractive valuation at 13 times EBITDA compared to its historical average of over 20 times. She believes Amazon has multiple avenues for growth, including an expected acceleration in AWS growth, rising retail margins, and potential in advertising revenue. Amazon's spending during the pandemic has concluded, providing operating leverage. Wall Street analysts favor Amazon for 2024, and Joe Terranova of Virtus Investment Partners may add Amazon stock to the Virtus Terranova U.S. Quality Momentum ETF (NASDAQ:JOET) during rebalancing.
January 24, 2024 | 9:04 pm
News sentiment analysis
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POSITIVE IMPACT
Amazon's stock is considered undervalued by Stephanie Link, with expectations of growth in AWS, retail margins, and advertising revenue. Analysts are bullish on Amazon for 2024.
The positive outlook from a respected investor and the anticipation of growth in key areas such as AWS and advertising, along with the end of pandemic-related spending, suggest a bullish short-term impact on AMZN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Joe Terranova of Virtus Investment Partners may add Amazon stock to the Virtus Terranova U.S. Quality Momentum ETF (NASDAQ:JOET) during the next rebalancing.
The potential inclusion of Amazon stock in the JOET ETF during rebalancing reflects a positive sentiment towards Amazon and could lead to increased demand for the ETF in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70