After Hours Most Active for May 2, 2024 : MFC, AEL, BN, AAPL, DT, KVUE, TLT, T, CTSH, GOOGL, AMZN, FIP
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 02 2024
0mins
Should l Buy AMZN?
Source: NASDAQ.COM
- NASDAQ 100 After Hours Indicator: The indicator is up by 113.31 points to 17,654.85 with a total after-hours volume of 84,695,635 shares traded.
- Most Active Stocks: Manulife Financial Corp (MFC) is up at $23.70, American Equity Investment Life Holding Company (AEL) is unchanged at $56.47, Brookfield Corporation (BN) is unchanged at $41.65, Apple Inc. (AAPL) is up at $173.25, Dynatrace, Inc. (DT) is unchanged at $45.84, Kenvue Inc. (KVUE) is unchanged at $19.12, iShares 20+ Year Treasury Bond ETF (TLT) is down at $88.89, AT&T Inc. (T) is unchanged at $16.82, Cognizant Technology Solutions Corporation (CTSH) is unchanged at $66.27, Alphabet Inc. (GOOGL) is unchanged at $166.62, Amazon.com, Inc. (AMZN) is unchanged at $184.72, and FTAI Infrastructure Inc. (FIP) is down at $7.37.
- Earnings Reports: MFC is scheduled to report earnings on 5/8/2024, AEL has a target price of $55, BN is set to report earnings on 5/9/2024, KVUE will provide an earnings report on 5/7/2024.
- Earnings Forecasts: MFC's consensus EPS forecast is 0.66 per share, AEL's consensus EPS forecast is not provided, BN's consensus EPS forecast is 0.73 per share, AAPL's consensus EPS forecast is $1.51, KVUE's consensus EPS forecast is 0.25 per share, TLT's consensus EPS forecast is not provided, GOOGL's consensus EPS forecast is $1.84, AMZN's consensus EPS forecast is $0.97.
- Analyst Recommendations: DT has a mean recommendation in the "buy range," T has a mean recommendation in the "buy range," GOOGL has a mean recommendation in the "buy range," AMZN has a mean recommendation in the "buy range," and FIP has a mean recommendation in the "strong buy range."
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy AMZN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMZN is 294.69 USD with a low forecast of 250.00 USD and a high forecast of 340.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
47 Analyst Rating
46 Buy
1 Hold
0 Sell
Strong Buy
Current: 222.690
Low
250.00
Averages
294.69
High
340.00
Current: 222.690
Low
250.00
Averages
294.69
High
340.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
AMAZON STOCK FALLS 10% IN FRANKFURT FOLLOWING ANNOUNCEMENT OF SIGNIFICANT CAPITAL EXPENDITURE IN EARNINGS REPORT
Amazon Shares Drop: Amazon's shares fell by 10% in Frankfurt following the announcement of significant capital expenditures.
Impact of Results: The decline in stock price is attributed to investor reactions to the company's financial results and spending plans.
See More
AMAZON: Q4 OPERATING INCOME REFLECTS $730 MILLION IN ESTIMATED SEVERANCE EXPENSES AND $610 MILLION IN ASSET IMPAIRMENTS FROM PHYSICAL STORES - PRESENTATION
- Q4 Operating Income: Amazon's Q4 operating income includes an estimated $730 million in severance costs.
- Asset Impairments: The company reported $610 million in asset impairments related to physical stores.
See More
Amazon Faces Challenges from Tariffs
- Inventory Pressure: Amazon's inventory is depleting due to tariffs imposed by Trump, leading to higher acquisition costs for merchants, which may drive up prices in the marketplace and affect consumer purchasing decisions.
- Changing Consumer Behavior: CEO Andy Jassy noted that consumers are becoming more price-conscious, seeking bargains, which could lead them to shop at alternative retailers, potentially impacting Amazon's market share.
- Long-term Growth Prospects: Despite the challenges posed by tariffs, Amazon still possesses strong long-term growth potential, with a robust business model and solid cash flow that position it well to navigate economic slowdowns.
- Reasonable Market Valuation: With a market cap of $2.6 trillion, Amazon may seem expensive, but its forward P/E ratio of 29 indicates that the stock is not egregiously overvalued, making it a solid long-term investment choice.
See More
Amazon Shares Plummet Following Earnings Report
- Earnings Report Impact: Amazon's stock experienced a significant decline following the release of its earnings report, which fell slightly short of expectations.
- Market Reaction: The disappointing earnings results led to a negative reaction in the market, affecting investor confidence in the company's performance.
See More
Cipher Mining: Dual Growth in AI and Crypto
- Long-Term Contracts: Cipher Mining has secured a $5.5 billion, 15-year lease with Amazon, indicating strong demand in the AI data center market, which is expected to provide the company with a stable long-term revenue stream.
- Crypto Business Growth: Cipher Mining's crypto mining revenue nearly tripled year-over-year to $71.7 million, and while still unprofitable, the operating loss decreased from $91.4 million to $37.6 million, showing positive progress towards profitability.
- Multi-GW Energy Pipeline: The company acquired a 200-megawatt site in Ohio, expected to energize by 2027, bringing its total energy pipeline to 3.4 GW, enhancing its competitive position among tech companies.
- Optimistic Market Outlook: According to Grandview Research, the AI market is projected to maintain a 30.6% compound annual growth rate through 2033, positioning Cipher Mining's AI data centers to benefit from this growth trend, further driving stock price appreciation.
See More
Musk's Wealth Surges to $845 Billion Amid SpaceX-xAI Merger
- Wealth Milestone: Musk's net worth surpassed $800 billion for the first time this week, now estimated at $845 billion, exceeding the combined wealth of Google founders and Meta's CEO, highlighting his immense influence in the tech sector.
- Acquisition Impact: Following SpaceX's acquisition of xAI, the merged entity is valued at $1.25 trillion, with Musk's 43% stake worth over $530 billion, marking a rapid shift in his fortunes that may affect his focus on Tesla.
- Market Outlook: SpaceX has secured over $20 billion in government contracts, with more lucrative deals anticipated, as Musk frames the acquisition as a significant step towards
See More
AMAZON STOCK FALLS 10% IN FRANKFURT FOLLOWING ANNOUNCEMENT OF SIGNIFICANT CAPITAL EXPENDITURE IN EARNINGS REPORT
Amazon Shares Drop: Amazon's shares fell by 10% in Frankfurt following the announcement of significant capital expenditures.
Impact of Results: The decline in stock price is attributed to investor reactions to the company's financial results and spending plans.
See More
AMAZON: Q4 OPERATING INCOME REFLECTS $730 MILLION IN ESTIMATED SEVERANCE EXPENSES AND $610 MILLION IN ASSET IMPAIRMENTS FROM PHYSICAL STORES - PRESENTATION
- Q4 Operating Income: Amazon's Q4 operating income includes an estimated $730 million in severance costs.
- Asset Impairments: The company reported $610 million in asset impairments related to physical stores.
See More
Amazon Faces Challenges from Tariffs
- Inventory Pressure: Amazon's inventory is depleting due to tariffs imposed by Trump, leading to higher acquisition costs for merchants, which may drive up prices in the marketplace and affect consumer purchasing decisions.
- Changing Consumer Behavior: CEO Andy Jassy noted that consumers are becoming more price-conscious, seeking bargains, which could lead them to shop at alternative retailers, potentially impacting Amazon's market share.
- Long-term Growth Prospects: Despite the challenges posed by tariffs, Amazon still possesses strong long-term growth potential, with a robust business model and solid cash flow that position it well to navigate economic slowdowns.
- Reasonable Market Valuation: With a market cap of $2.6 trillion, Amazon may seem expensive, but its forward P/E ratio of 29 indicates that the stock is not egregiously overvalued, making it a solid long-term investment choice.
See More
Amazon Shares Plummet Following Earnings Report
- Earnings Report Impact: Amazon's stock experienced a significant decline following the release of its earnings report, which fell slightly short of expectations.
- Market Reaction: The disappointing earnings results led to a negative reaction in the market, affecting investor confidence in the company's performance.
See More
Cipher Mining: Dual Growth in AI and Crypto
- Long-Term Contracts: Cipher Mining has secured a $5.5 billion, 15-year lease with Amazon, indicating strong demand in the AI data center market, which is expected to provide the company with a stable long-term revenue stream.
- Crypto Business Growth: Cipher Mining's crypto mining revenue nearly tripled year-over-year to $71.7 million, and while still unprofitable, the operating loss decreased from $91.4 million to $37.6 million, showing positive progress towards profitability.
- Multi-GW Energy Pipeline: The company acquired a 200-megawatt site in Ohio, expected to energize by 2027, bringing its total energy pipeline to 3.4 GW, enhancing its competitive position among tech companies.
- Optimistic Market Outlook: According to Grandview Research, the AI market is projected to maintain a 30.6% compound annual growth rate through 2033, positioning Cipher Mining's AI data centers to benefit from this growth trend, further driving stock price appreciation.
See More
Musk's Wealth Surges to $845 Billion Amid SpaceX-xAI Merger
- Wealth Milestone: Musk's net worth surpassed $800 billion for the first time this week, now estimated at $845 billion, exceeding the combined wealth of Google founders and Meta's CEO, highlighting his immense influence in the tech sector.
- Acquisition Impact: Following SpaceX's acquisition of xAI, the merged entity is valued at $1.25 trillion, with Musk's 43% stake worth over $530 billion, marking a rapid shift in his fortunes that may affect his focus on Tesla.
- Market Outlook: SpaceX has secured over $20 billion in government contracts, with more lucrative deals anticipated, as Musk frames the acquisition as a significant step towards
See More
