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Amazon Stock Forecast: Why I Still Have A $3,700 Price Target For Amazon

August 2, 2021

The Amazon stock forecast was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary

Amazon’s Q2 report on July 30 did not beat Wall Street’s revenue estimate. The stock price dropped by -7.57%.
Q2 revenue was actually impressive at $113.1 billion (+27% Y/Y). This is lower just $2 billion lower than Wall Street average expectation of $115 billion.
Let us focus more on the EPS beat. Wall Street expected only $12.22 but Amazon’s Q2 EPS was $15.22. Amazon is apparently prioritizing net income margin now.
The Alpha, Beta, Delta variants are forcing even vaccinated people to again stay at home and do more online shopping, online gaming, and online streaming.
Amazon Web Services’ Q2 revenue was $14.81 billion, up +37% Y/Y.