• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Amazon attempts to break below support, but Evercore thinks it’s a “Buffett buy” stock
Investing

Amazon attempts to break below support, but Evercore thinks it’s a “Buffett buy” stock

by December 20, 2022
by December 20, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

After losing half of its value year-to-date, investors seem not done yet with Amazon.com, Inc. (NASDAQ:AMZN) stock. AMZN traded lower on Tuesday as stock markets weighed on the impending recession.

Amazon stock has now lost 8.57% in five days amid concerns about higher rates and the state of the economy. The risks have been heightened by the latest Bank of America report showing the possibility of a recession in the first quarter of 2023. Economists note that the recent 50 bps rate hike by the Federal Reserve did little to avert the recession outlook for stocks. The analysts project a negative GDP for the US next year.

Nonetheless, Evercore ISI Research has labelled Amazon stock a “Buffet buy” despite the bear pressure. According to the analysts, Amazon has three levers it can tap to unlock value heading next year. 

The first level of value mentioned by Evercore is Amazon’s ambitious projects. The analysts laud Amazon’s investment into robotics, video entertainment, Alexa, and AV as some of the growth drivers. The second lever is the untapped advertisements through Amazon Prime Video. The analysts say this is an easy opportunity for the tech giant. Finally, analysts expect Amazon to buy back shares using its cash pile of nearly $80 billion. These are expected to boost the share price.

With the growth levers, Evercore says these are factors that could make Warren Buffet buy Amazon again. The investor owns around $1.2 billion of the stock, bought through Berkshire Hathaway in 2019.

AMZN stock outlook and analysis

AMZN Chart by TradingView

Amazon stock maintains a downtrend on the daily chart. The stock trades at a support zone with weakening momentum. The MACD indicator is bearish.

Is AMZN a good investment?

Investing in Amazon now is premature. Both technical and fundamental factors are not favourable. Nonetheless, Evercore has a price target of $150 for the stock, although the analysts think this should be a long-term buy.

The post <strong>Amazon attempts to break below support, but Evercore thinks it’s a “Buffett buy” stock</strong> appeared first on Invezz.

You Might Also Like
  • Jefferies analyst reveals his top two biotech stocks for 2023
  • Jim Cramer on Salesforce layoffs: ‘this is the first of many’
  • Long Put Option Strategy
  • 4 most-owned stocks by super investors
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Disney shares could rally up to 45% in 2023: Wells Fargo
next post
Nike stock up 12% on Q2 earnings: should you buy?

You may also like

Opera launches new Web3 security tools for crypto users

December 15, 2022

This is what you should expect from U.S. stocks in...

December 27, 2022

Bank of Ghana raised rates to 19-year high; Debt-ridden government...

November 29, 2022

OptionNET Explorer (ONE) Software

March 19, 2023

BREAKING: US inflation at 6.5%, what does it mean for...

January 12, 2023

Jefferies analyst reveals her only buy-rated airline stock

November 24, 2022

Gene Munster doesn’t see China shutdowns as a threat for...

November 28, 2022

2022 in the stock market: why it hasn’t been that...

December 7, 2022

CBI says the UK is in a “short and shallow”...

December 5, 2022

Microsoft to invest another $10 billion in company behind ChatGPT

January 10, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The NASDAQ 100, On The Brink Of A Breakout, Needs Help From This Group

      June 21, 2025
    • Tesla agrees to first deal to build China’s largest grid-scale battery power plant

      June 21, 2025
    • Oil prices rise more than 1% as Israel vows to intensify attacks on Iran

      June 20, 2025
    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

      June 20, 2025
    • Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says

      June 20, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,600 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,877 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,579 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,542 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,418 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,622)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The NASDAQ 100, On The Brink Of A Breakout, Needs...

      June 21, 2025
    • Tesla agrees to first deal to build China’s largest grid-scale...

      June 21, 2025
    • Oil prices rise more than 1% as Israel vows to...

      June 20, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,143)
    • Investing (538)
    • Stock (2,622)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Will Constellation Brands’ sell off continue...

    January 6, 2023

    3 reasons why the December NFP...

    January 7, 2023

    Credit Suisse slipped to an all-time...

    November 23, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here