$Amazon.com(AMZN)$Bullish
Amazon share price has been on an upswing lately as investors are piling back into this quality tech stock.
Wall Street Analysts are also optimistic about Amazon. It is a strong BUY with 39 analysts, the average Target Price is USD176.04 implying a 22.63% upside.
Even the legendary investor, George Soros has been buying big on Amazon with USD 213 million worth of shares.
Recently Amazon has been on an acquisition spree. It announced a USD3.5 billion deal with 1 Life Healthcare and USD 1.65 billion agreement with iRobot, maker of Room a vacuum.
In the latest quarterly report, Amazon reported a net loss of USD 2 billion and in the previous quarter, a net loss of USD 3.8 billion.
In the 2nd quarter, Amazon recorded a non cash loss of USD 7.6 billion related to its 20% stake in Rivian.
Amazon has doubled its size of its fulfilment centre but due to supply disruption and soaring fuel prices, it has impacted its bottom line.
I am bullish on $Amazon.com(AMZN)$as it has a dominant position in both e Commerce and Cloud Services. Amazon Web Services has a strong lead over its closest rivals, Microsoft and Alphabet. It is a great time to buy $Amazon.com(AMZN)$as it can only go up long term.
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Nice