Is Amazon stock a good buy 2020?
3, 2020, at 3:17 p.m.
Amazon staying strong.
Despite some broad market weakness, Amazon.com (ticker: AMZN) is once again within a stone’s throw of a $1 trillion market cap after reporting blowout fourth-quarter numbers.
Amazon’s stock price gained more than 7% on better-than-expected sales and cloud revenue.
Why did Amazon stock drop 2019?
Amazon shares fell as much as 9% in after-hours trading Thursday following its third-quarter earnings report, with the stock recovering to a 1.3% loss by Friday afternoon. The move was in part due to Amazon’s return to investing heavily in its business, which weighed on profitability.
Can Amazon stock go higher?
Yes, as per Trefis Price estimate Amazon’s (NASDAQ:AMZN) stock has a fair value of $2,218, which is roughly 10% higher than the current market price.
Why is Amazon stock falling?
Amazon.com stock will rise due to its strong sales growth driven by its one-day shipping offering, according to Benchmark. Amazon shares (ticker: AMZN) haven’t done much since the e-commerce giant reported mixed financial results in October for its quarter ended in September, which included an earnings miss.