Nasdaq AMZN Amazon

Global stocks advanced on Tuesday as positive corporate earnings spurred some investor risk appetite, although caution remained given the war in the Middle East and looming make-or-break data for the outlook for U.S. interest rates.

U.S. stocks rose on Tuesday as a selloff in U.S. Treasuries eased, while upbeat forecasts from Verizon, Coca-Cola and others boosted optimism about corporate America's health in the face of slowing economy and higher inflation.

It's been a tough three months for the stock market. The S&P 500 currently sits 8% below its late-July high, and is still knocking on the door of lower lows. In fact, most stocks are down for this time frame, albeit to varying degrees.

In this report, we preview technology earnings ahead of the 3Q23 earnings season.

E-commerce and cloud computing leader Amazon ( NASDAQ:AMZN ) is scheduled to report its third-quarter financials after the market closes on Thursday, October 26. The tech giant is expected to benefit from the strength in the cloud and advertising businesses, cost-cutting measures, and strong momentum in the e-commerce unit. Ahead of the company’s Q3 earnings release, several analysts remain bullish about AMZN stock and reaffirmed their Buy ratings. Overall, Wall Street expects AMZN to post  earnings of $0.58 per share in Q3 compared to $0.28 in the prior-year period. Meanwhile,  revenue is expected to rise 11.4% from the year-ago quarter to $141.54 billion. Q3 Earnings: Here’s What Analysts Are Saying Morgan Stanley analyst Brian Nowak anticipates the growth rate of the company's Amazon Web Services (AWS) business to re-accelerate to mid-teens, exiting 2023 and heading into the next year. Nowak reiterated a Buy rating on the stock with a price target of $175. Another bullish analyst,  Brian White of Monness, expects Amazon to reap the rewards from digital transformation, cloud technology adoption, new artificial intelligence (AI) products, and opportunities in healthcare. Additionally, the company's skill in capitalizing on cost efficiencies adds to his favorable outlook. Regarding Q3, the analyst expects AMZN’s revenue to grow 12% year-over-year to $142.34 billion. He expects Q3 EPS of $0.63. White anticipates the company’s recent Prime Big Deal Days and AI developments to impact the results favorably. White reaffirmed a Buy rating on AMZN stock with a price target of $170. Similarly, Brent Thill from Jefferies, who has a Buy rating with a price target of $175, views Amazon’s strategy to penetrate the $1.6 trillion U.S. grocery market as a significant opportunity. This strategy is supported by higher shopper frequency and the potential to capture about $200 billion in annual consumer packaged goods (CPG) advertising spend. The CPG ad spend provides a high-margin opportunity to significantly grow Amazon's advertising business from its 2023 figure of $45 billion (estimate). Finally, Thill emphasized the importance of Amazon expanding its physical presence beyond the existing 650 stores to support market share expansion. Is Amazon a Buy or Sell Stock? Of the 42 analysts covering Amazon stock, 41 have assigned a Buy rating, and just one has suggested a Hold in the past three months. Overall, the stock comes in as a Strong Buy. Meanwhile, the  average AMZN stock price target stands at $175.38, implying an upside potential of 38.6%.  Shares are up 47.5% year-to-date. Insights from Options Trading Activity TipRanks now presents options activity to help investors plan their trades ahead of earnings releases. Options traders are  pricing in a +/- 6.95% move on Amazon’s earnings. AMZN shares have averaged a negligible 0.41% downward move in the last eight quarters. In particular, the stock gained 8.27% in reaction to Q2 2023 results. The anticipated move is determined by computing the at-the-money straddle of the options closest to the expiration after the earnings announcement. Learn more about TipRanks’ Options tool here. Ending Note Analysts remain optimistic about AMZN’s performance ahead of the third quarter results. Furthermore, the company’s strong market presence and diverse offerings are expected to drive further upside in the stock. Disclosure

Wall Street closed mixed on Monday as the benchmark 10-year treasury yield came down after briefly breaching the 5% mark. Investors continue to closely monitor the third-quarter earnings season as well as the economic metrics to g

Comcast’s CMCSA Xumo has collaborated with Mediacom Communications to provide Xumo Stream Box to its Xtream Internet customers in the near future. This move positions Mediacom as the third U.S.-based operator to make the Xumo Stre

Wall Street's main indexes were set to open higher as a selloff in U.S. Treasuries eased on Tuesday, while shares of General Electric and Coca-Cola surged on upbeat forecasts.

Below is Validea's guru fundamental report for AMAZON.COM, INC. (AMZN). Of the 22 guru strategies we follow, AMZN rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhi

Amazon AMZN is set to report third-quarter 2023 results on Oct 26.The company is expected to have continued gaining from solid momentum in the rapidly growing cloud market on the back of its cloud computing division, Amazon Web Se

Global stocks steadied on Tuesday as a flicker of investor risk appetite lifted equities and commodities, although trading was cautious given the war in the Middle East and looming make-or-break data for the outlook for U.S. interest rates.

Futures tracking Wall Street's main indexes gained on Tuesday as a selloff in U.S. Treasuries eased a day after the benchmark 10-year yield crossed 5%, while investors assessed earnings from General Electric, Coca-Cola and other companies.

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Cybersecurity is a top priority for companies. It has to be, with an estimated 500 million cyberattacks worldwide last year. Endpoints (anything that connects to a network, such as laptops, desktops, and cellphones) are the source of 90% of successful attacks, according to IBM. T

Advanced Micro Devices (NASDAQ: AMD) stock managed an impressive turnaround from last year's sell-off. In 2022, its share price plunged 55% as macroeconomic headwinds caused reductions in consumer spending across the tech market. In 2023, AMD shares are up 57%, mainly driven by e

There's been a slight sell-off in the tech market, with the Nasdaq-100 Technology Sector index dipping almost 10% since the start of August. A looming recession has Wall Street concerned that companies may suffer slower-than-normal sales over the coming holiday season and into 20

Asian equities rose slightly on Tuesday, to stand just off their lowest since November 2022, while the dollar eased as traders avoided bets ahead of economic data expected to offer clues to the next steps by the U.S. Federal Reserve.

For Immediate ReleaseChicago, IL – October 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the fi

For Immediate ReleaseChicago, IL – October 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the fi

For Immediate ReleaseChicago, IL – October 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the fi