Amazon Stock Forecast: COVID-19 Showed How Strong Amazon Is
This Amazon stock forecast article 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
- Like other stocks, AMZN was among the biggest dropper during the March Madness COVID-19 pandemic sell-off.
- Amazon’s stock is also among those fastest to recover. From dipping below $1,700, this stock is trading above $1,900.
- Now is the time to add more AMZN to your long-term portfolio. COVID-19 obviously steered new repeat customers to Amazon’s online marketplace.
- Traditional retail stores were forcibly shutdown in many countries due to COVID-19 pandemic. On the other hand, online shopping portals are still allowed to operate.
- The work-from-home initiatives of most companies right now is also boosting Amazon’s most profitable division, AWS.