Amazon Stock Forecast

Amazon Stock Forecast –

Amazon stock forecast, Amazon is an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon has a market cap of $1.47 T. Also, it has a P/E ratio of 44.62 and EPS of 64.81.

Amazon Stock Quote =

Stock Price : $2891.93

Market Cap : $1.47 T

PE Ratio : 44.62

EPS : 64.81

52 Week Range – $2671.45 – $3773.08

Key Takeaways From Amazon Result =

1. Amazon delivered a disappointing quarter and outlook due to increased costs to run its warehouses and deliver packages to customers.
2. Increased costs because it offered higher pay to attract workers.
3. $7.6 Bn loss on investment in electric vehicle maker Rivian after shares lost more than half of their value in this quarter.
4. Total net loss of $3.8 Bn.
5. Revenue of $116.44 Bn and EPS of $7.38.
6. Revenue increased 7% during the first quarter compared to 44% in the same quarter last year.
7. The slowest rate for any quarter since the dot-com bust in 2001.
8. Second-quarter forecasts suggest growth could dip further between 3% to 7% from a year earlier.
9. Projects revenue this quarter of $116 Bn to $121 Bn, below the analysts, an estimate of $125 Bn.
10. Economical challenges include rising inflation, higher fuel and labor costs, global supply chain snarls, and the ongoing pandemic.
11. The company reported disappointing ad revenue, still, the segment grew 23% YOY better than Google and Facebook.
12. Sales at AWS increased 36.5% from YOY to $18.44 Bn above the $18.27 Bn projected by wall street.
13. AWS generated 57% growth in operating income to $6.5 Bn but still, total operating income fell to $3.7 Bn from $8.9 Bn YOY.

Amazon Stock Technical Analysis –

We are going to use top-down approach for amazon stock forecast –

1. Weekly Chart –

The above weekly chart shows that the price is taking support from the zone of $2668.77 – $2899.07. Also, the price can take support of the trendline. The next support levels are $2040 – $2188.76 and the resistance levels are $3251.16 – $3422.10.

2. Daily Chart –

The above daily chart shows that the price is making a falling channel and now it is at the support zone, so need to check the breakout. The resistance levels for daily time frames are $3172.32 – $3273.22.

3. Hourly Chart –

The hourly chart shows that the price is at the resistance level of $2898 – $2928.99 and the next support levels are $2746.60 – $2769.96.

This is technical analysis of Amazon stock.