Nasdaq AMZN Amazon

U.S. ecommerce firm Amazon said on Tuesday it would launch its online shopping service in South Africa in 2024, entering a market dominated by Naspers' TakeAlot.

Stock markets are bracing for more volatility due to high interest rates, rising oil prices, stubborn inflation, and geopolitical tensions. Given these uncertain times, it could be a good idea to focus on mega-cap stocks (stocks of large companies with at least $200 billion in market capitalization) that have the ability to thrive even during uncertain times and have promising long-term growth potential. Using TipRanks’ Stock Comparison Tool, we placed Meta Platforms ( NASDAQ:META ), Amazon ( NASDAQ:AMZN ), and Apple ( NASDAQ:AAPL ) against each other to find the most attractive mega-cap tech stock as per Wall Street analysts. Meta Platforms (NASDAQ:META) Social media giant Meta Platforms has impressed investors with a solid comeback this year after being under pressure for a couple of quarters due to weakness in digital ad spending and the adverse impact of Apple’s iOS privacy policy changes, which limited its ad-targeting capabilities. Meta’s revenue grew 11% in Q2 2023 and the company guided for Q3 revenue in the range of $32 billion to $34.5 billion, which indicates year-over-year growth of at least 15%. CEO Mark Zuckerberg is optimistic about the road ahead, backed by strong engagement across Meta's apps, traction in Threads and Reels, and the company’s artificial intelligence (AI) pursuits. Zuckerberg is also focused on improving Meta’s profitability through efficiency measures. Is Meta a Buy, Sell, or Hold? Meta is scheduled to announce its third-quarter results on October 25. Heading into the Q3 results, Mizuho analyst James Lee reiterated a Buy rating on Meta stock last week, with a price target of $400. The analyst highlighted that agency checks indicate that Meta’s advertising revenue growth is tracking ahead of the Street’s consensus. Lee also expects further operating leverage from Meta’s increased efficiency. The analyst contends that with an estimated exit rate of 20% plus revenue growth, the 2024 growth consensus estimate of 13% seems conservative, given positive leading indicators from improved pricing. Lee said that while investors are concerned that Meta’s 2024 operating expense guidance could be elevated at 20% year-over-year growth, the possibility of such an outlook seems low due to the narrow product roadmap of Metaverse and a lower possibility of any significant rise in headcount. With 41 Buys and two Holds, Wall Street has a Strong Buy consensus rating on Meta Platforms stock. The average price target of $376.03 implies 17.1% upside potential. Meta shares have rallied more than 167% year-to-date.   Amazon (NASDAQ:AMZN) Despite a tough macro backdrop, e-commerce and cloud computing behemoth Amazon impressed investors with its second-quarter performance. The company returned to double-digit sales growth in the second quarter. Moreover, its cost-cutting efforts helped in boosting its earnings. While sales growth of the company’s Amazon Web Services (AWS) cloud business slowed down to 12%, it beat analysts’ expectations. The AWS business is more profitable than Amazon’s retail business. The company is confident about AWS’s growth potential and believes that it is “poised to be customers' long-term partner of choice in generative AI.” AMZN is also upbeat about its advertising business, which posted sales growth of 22% in Q2 2023. What is the Target Price for Amazon Stock? Ahead of Amazon’s third-quarter results on October 26, Goldman Sachs analyst Eric Sheridan reiterated a Buy rating on AMZN stock last week but lowered the price target to $175 from $180 to reflect higher capital expenditure. The analyst stated that cloud computing industry checks through September indicate that AWS revenue remained largely stable. He expects stable AWS revenue growth in Q3 2023 over Q2 (at 12% year-over-year) and reacceleration in Q4 (more than 14% year-over-year), driven by easier comparisons, lower pace of spending optimization by enterprises, and growth in new workloads.   Looking beyond the quarterly results, the analyst believes that Prime Video ads could be a nearly $2 billion revenue opportunity for Amazon in 2025, with about a $700 million contribution to consolidated EBIT. Wall Street has a Strong Buy consensus rating on AMZN stock based on 40 Buys versus one Hold rating. At $176.18, the average price target implies 36% upside potential. Shares have risen about 58% so far this year. Apple (NASDAQ:AAPL) Persistent macro uncertainty and high interest rates are weighing on consumer spending on discretionary items, especially big-ticket purchases. Apple’s results in the recent quarters clearly reflect the impact of weak consumer spending on its key products. In particular, revenue from iPhone, Mac, and iPad declined on a year-over-year basis in the fiscal third quarter (ended July 1, 2023). However, an 8% growth in Apple’s Services business helped offset the weakness in product sales to some extent. Aside from macro pressures, reports on issues related to iPhone 15 and growing competition are also impacting investor sentiment for AAPL stock. Is Apple a Buy or Sell Right Now? Apple is scheduled to announce its fiscal fourth-quarter results on November 2. Morgan Stanley analyst Erik Woodring expects Apple to report "a relatively in-line" September quarter, specifying that his revenue estimate of $89.9 billion and EPS forecast of $1.39 are within 1% of the Street’s estimates. However, Woodring's December quarter revenue and EPS estimates of $123.8 billion and $2.13 are 5% and 9% lower than his previous forecast, respectively, but are still marginally above consensus revenue and EPS forecasts of $123.2 billion and $2.11, respectively. He expects the December quarter to be impacted by iPhone supply shortages and a stronger U.S. dollar. The analyst does not expect Apple’s upcoming earnings to be a material catalyst for the stock. He lowered his price target for AAPL stock to $210 from $215 on Monday but maintained a Buy rating. Including Woodring, 20 analysts are bullish on AAPL stock, while nine have a Hold recommendation, bringing the consensus rating to a Moderate Buy. The average price target of $207.51 implies 16.1% upside potential. Shares have advanced 38% year-to-date.   Conclusion Wall Street is highly bullish on Meta Platforms and Amazon, while it is cautiously optimistic about Apple. Currently, analysts see higher upside potential in AMZN stock than the other two mega-cap tech stocks. Amazon’s dominance in e-commerce and cloud computing, its prospects in AI, and growing advertising revenue are expected to drive continued growth in the years ahead. Disclosure

Stock markets are bracing for more volatility due to high interest rates, rising oil prices, stubborn inflation, and geopolitical tensions. Given these uncertain times, it could be a good idea to focus on mega-cap stocks (stocks of large companies with at least $200 billion in market capitalization) that have the ability to thrive even during uncertain times and have promising long-term growth potential. Using TipRanks’ Stock Comparison Tool, we placed Meta Platforms ( NASDAQ:META ), Amazon ( NASDAQ:AMZN ), and Apple ( NASDAQ:AAPL ) against each other to find the most attractive mega-cap tech stock as per Wall Street analysts. Meta Platforms (NASDAQ:META) Social media giant Meta Platforms has impressed investors with a solid comeback this year after being under pressure for a couple of quarters due to weakness in digital ad spending and the adverse impact of Apple’s iOS privacy policy changes, which limited its ad-targeting capabilities. Meta’s revenue grew 11% in Q2 2023 and the company guided for Q3 revenue in the range of $32 billion to $34.5 billion, which indicates year-over-year growth of at least 15%. CEO Mark Zuckerberg is optimistic about the road ahead, backed by strong engagement across Meta's apps, traction in Threads and Reels, and the company’s artificial intelligence (AI) pursuits. Zuckerberg is also focused on improving Meta’s profitability through efficiency measures. Is Meta a Buy, Sell, or Hold? Meta is scheduled to announce its third-quarter results on October 25. Heading into the Q3 results, Mizuho analyst James Lee reiterated a Buy rating on Meta stock last week, with a price target of $400. The analyst highlighted that agency checks indicate that Meta’s advertising revenue growth is tracking ahead of the Street’s consensus. Lee also expects further operating leverage from Meta’s increased efficiency. The analyst contends that with an estimated exit rate of 20% plus revenue growth, the 2024 growth consensus estimate of 13% seems conservative, given positive leading indicators from improved pricing. Lee said that while investors are concerned that Meta’s 2024 operating expense guidance could be elevated at 20% year-over-year growth, the possibility of such an outlook seems low due to the narrow product roadmap of Metaverse and a lower possibility of any significant rise in headcount. With 41 Buys and two Holds, Wall Street has a Strong Buy consensus rating on Meta Platforms stock. The average price target of $376.03 implies 17.1% upside potential. Meta shares have rallied more than 167% year-to-date.   Amazon (NASDAQ:AMZN) Despite a tough macro backdrop, e-commerce and cloud computing behemoth Amazon impressed investors with its second-quarter performance. The company returned to double-digit sales growth in the second quarter. Moreover, its cost-cutting efforts helped in boosting its earnings. While sales growth of the company’s Amazon Web Services (AWS) cloud business slowed down to 12%, it beat analysts’ expectations. The AWS business is more profitable than Amazon’s retail business. The company is confident about AWS’s growth potential and believes that it is “poised to be customers' long-term partner of choice in generative AI.” AMZN is also upbeat about its advertising business, which posted sales growth of 22% in Q2 2023. What is the Target Price for Amazon Stock? Ahead of Amazon’s third-quarter results on October 26, Goldman Sachs analyst Eric Sheridan reiterated a Buy rating on AMZN stock last week but lowered the price target to $175 from $180 to reflect higher capital expenditure. The analyst stated that cloud computing industry checks through September indicate that AWS revenue remained largely stable. He expects stable AWS revenue growth in Q3 2023 over Q2 (at 12% year-over-year) and reacceleration in Q4 (more than 14% year-over-year), driven by easier comparisons, lower pace of spending optimization by enterprises, and growth in new workloads.   Looking beyond the quarterly results, the analyst believes that Prime Video ads could be a nearly $2 billion revenue opportunity for Amazon in 2025, with about a $700 million contribution to consolidated EBIT. Wall Street has a Strong Buy consensus rating on AMZN stock based on 40 Buys versus one Hold rating. At $176.18, the average price target implies 36% upside potential. Shares have risen about 58% so far this year. Apple (NASDAQ:AAPL) Persistent macro uncertainty and high interest rates are weighing on consumer spending on discretionary items, especially big-ticket purchases. Apple’s results in the recent quarters clearly reflect the impact of weak consumer spending on its key products. In particular, revenue from iPhone, Mac, and iPad declined on a year-over-year basis in the fiscal third quarter (ended July 1, 2023). However, an 8% growth in Apple’s Services business helped offset the weakness in product sales to some extent. Aside from macro pressures, reports on issues related to iPhone 15 and growing competition are also impacting investor sentiment for AAPL stock. Is Apple a Buy or Sell Right Now? Apple is scheduled to announce its fiscal fourth-quarter results on November 2. Morgan Stanley analyst Erik Woodring expects Apple to report "a relatively in-line" September quarter, specifying that his revenue estimate of $89.9 billion and EPS forecast of $1.39 are within 1% of the Street’s estimates. However, Woodring's December quarter revenue and EPS estimates of $123.8 billion and $2.13 are 5% and 9% lower than his previous forecast, respectively, but are still marginally above consensus revenue and EPS forecasts of $123.2 billion and $2.11, respectively. He expects the December quarter to be impacted by iPhone supply shortages and a stronger U.S. dollar. The analyst does not expect Apple’s upcoming earnings to be a material catalyst for the stock. He lowered his price target for AAPL stock to $210 from $215 on Monday but maintained a Buy rating. Including Woodring, 20 analysts are bullish on AAPL stock, while nine have a Hold recommendation, bringing the consensus rating to a Moderate Buy. The average price target of $207.51 implies 16.1% upside potential. Shares have advanced 38% year-to-date.   Conclusion Wall Street is highly bullish on Meta Platforms and Amazon, while it is cautiously optimistic about Apple. Currently, analysts see higher upside potential in AMZN stock than the other two mega-cap tech stocks. Amazon’s dominance in e-commerce and cloud computing, its prospects in AI, and growing advertising revenue are expected to drive continued growth in the years ahead. Disclosure

Zacks Rank #3 (Hold) stock Tesla (TSLA) is scheduled to report third-quarter earnings on Wednesday, October 18th, after the market closes. Year-to-date, shares of Tesla have outperformed the auto industry and the general market an

One look at Walgreens' ( NASDAQ:WBA ) stock chart tells you that it hasn’t been a good year for the embattled retail pharmacist. The company is taking hits from several angles, and its previous CEO left the company in August. While there are challenges here, there's still lots to like about this battered stock. I'm bullish on WBA because its valuation looks attractive, with shares trading at under 7 times forward earnings. Additionally, Walgreens' dividend yield of over 8% is an attractive proposition for income investors in any interest rate environment. Lastly, as an added bonus, the company just appointed a new CEO with plenty of healthcare sector experience, paving the way for a blank slate and a potential turnaround. Let's take a closer look at Walgreens. Rock-Bottom Valuation It’s no secret that Walgreens faces plenty of challenges. Like many retailers, the company has been hurt by shrinkage (loss of inventory) as a result of rising theft across the country. Like other businesses, it is also dealing with strikes by employees. Meanwhile, it is even dealing with the longer-term, existential threat of new, deep-pocketed competitors like Amazon ( NASDAQ:AMZN ) and Mark Cuban’s Cost Plus Drugs that are looking to enter the industry and disrupt Walgreens’ business model.  Clearly, the stock has some issues, but that’s also why it is so glaringly cheap. As mentioned earlier, the stock trades at under 7 times forward earnings. It’s difficult to find stocks that trade for this cheap, let alone a well-recognized blue-chip one like Walgreens. This isn't a penny stock or a fly-by-night company. Walgreens is a longstanding Dow component, not to mention a Dividend Aristocrat that has raised its annual dividend payout for an incredible 46 years in a row. The company has stood the test of time for 122 years, as it was founded in 1901.   When a stock gets this cheap, it is, of course, a sign that it is struggling and that the future outlook is cloudy, but it also gives investors a margin of safety, which can lead to profits. For example, look at struggling stocks with solid businesses like Chico’s FAS ( NYSE:CHS ) and Capri Holdings ( NYSE:CPRI ). I have owned both, and both traded at mid-single-digit valuations this year before being acquired by a competitor or taken private for significant premiums. I don’t necessarily think that Walgreens is going to get acquired or that this is the primary reason one should invest in the stock, but it illustrates that a well-recognized, solid company has plenty of optionality when it trades at this inexpensive of a valuation.  Dividend-King Status on the Horizon  Now, back to that dividend. Walgreens' dividend yield currently stands at a mouth-watering 8.4%. This easily dwarfs the S&P 500's ( SPX ) average dividend yield of 1.6% and far surpasses the 10-year treasury yield of 4.7%, making it an attractive option for dividend investors even in a world of rising interest rates.  When a dividend yield gets this high, often as a result of a stock’s price falling, caution is often warranted. An outlandishly-high yield can be a red flag signaling that a company may reduce or eliminate its dividend payment.  But I don’t think Walgreens will do this. As mentioned earlier, WBA is a Dividend Aristocrat and has raised its payouts for 46 consecutive years. This puts it right on the precipice of joining an even more prestigious group of stocks -- Dividend Kings -- companies that have increased their annual dividend payouts for 50 years or more. Furthermore, the company's dividend payout ratio is 46%, so it doesn't seem that there is a pressing need to cut it. Anything can happen, and caution is warranted, but I find it unlikely that Walgreens would cut its dividend and throw away nearly 50 years of commitment to shareholder returns shortly before becoming a Dividend King.  A Low Bar for the New CEO This week, Walgreens appointed a new CEO, Tim Wentworth. Wentworth is a healthcare industry veteran who previously served as CEO of Express Scripts. After Express Scripts was acquired by Cigna ( NYSE:CI ), Wentworth led its health-services segment, Evernorth. While we don’t yet know how the new CEO will perform or what his plans are, he certainly has the right type of experience. The stock could rebound based on a clearly articulated turnaround plan and signs of progress against it. The stock rallied on Thursday after what was a fairly underwhelming earnings report -- Walgreens missed on earnings and issued soft guidance for next year's earnings -- but it wasn't all bad. Walgreens' revenue grew by 9% year-over-year, thanks to momentum in its Retail Pharmacy business and International segment. The company is also making progress on its cost-cutting plans, which include closing unprofitable stores and utilizing AI to streamline its supply chain. In summary, the bar is set fairly low in terms of investor expectations, giving Wentworth the opportunity to hit the ground running and beat these low expectations, which could get the stock going again. WBA is still down 46% from its 52-week high. It wasn’t that long ago that the stock traded for over $40 a share. Given this low bar and the stock's rock-bottom valuation, I don’t think it will be a tall order to move higher from here. Is WBA Stock a Buy, According to Analysts? Turning to Wall Street, WBA earns a Hold consensus rating based on one Buy, eight Holds, and one Sell ratings assigned in the past three months. The average WBA stock price target of $26.56 implies 16.8% upside potential. Investor Takeaway Walgreens certainly has some hair on it. As discussed above, the company must grapple with serious challenges both in the short term and the long term. But it trades at an incredibly inexpensive valuation, especially for a soon-to-be Dividend King and a member of the Dow Jones Industrial Average ( DJIA ). The stock’s dividend yield of 8% is attractive even amid higher interest rates, and a newly-appointed CEO gives the stock a chance for a fresh start. I view Walgreens as a compelling contrarian investment opportunity and recently initiated a small position in my portfolio. Disclosure

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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