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