Amazon Set To Top Last Year's Prime Day Results Due To Early Deals, Analysts Say
Portfolio Pulse from Michael Juliano
Amazon is expected to surpass last year's Prime Day results due to early access deals, with sales projected to increase by 7% to $13 billion. Bank of America maintains a Buy rating for Amazon with a price target of $194.49. Other retailers like Walmart and Target also held sales events in July. ETFs holding Amazon and Walmart shares trended downward.
July 15, 2024 | 4:09 pm
News sentiment analysis
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NEGATIVE IMPACT
The ProShares Ultra Consumer Staples ETF, which holds Amazon and Walmart shares, declined 0.70%.
Despite positive news for Amazon and Walmart, the ETF saw a notable decline, indicating negative investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
The Fidelity MSCI Consumer Staples Index ETF, which holds Amazon and Walmart shares, dipped 0.08%.
Despite positive news for Amazon and Walmart, the ETF saw a slight decline, indicating mixed investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
The Van Eck Retail ETF, which holds Amazon and Walmart shares, slipped 0.19%.
Despite positive news for Amazon and Walmart, the ETF saw a slight decline, indicating mixed investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
The Vanguard Consumer Staples ETF, which holds Amazon and Walmart shares, dipped 0.08%.
Despite positive news for Amazon and Walmart, the ETF saw a slight decline, indicating mixed investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
The Consumer Staples Select Sector SPDR Fund, which holds Amazon and Walmart shares, slipped 0.01%.
Despite positive news for Amazon and Walmart, the ETF saw a slight decline, indicating mixed investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Amazon is expected to surpass last year's Prime Day results with a 7% increase in sales to $13 billion, driven by early access deals. Bank of America maintains a Buy rating with a price target of $194.49.
The projected increase in sales and the positive analyst rating from Bank of America are likely to boost investor confidence in Amazon, leading to a potential short-term price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Target held a 'Circle Week' promotion that closed on July 13, which could positively impact its sales performance.
Target's recent promotional event could lead to an increase in sales, positively impacting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Walmart held a deal event that ended on July 11, which could impact its sales performance positively. The stock edged up 0.84% in late-morning trading.
Walmart's recent deal event could positively impact its sales, contributing to the stock's slight increase in value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50