Alphabet, ASML, Samsung, and Other Tech Stocks in Focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2024
0mins
Source: barron's
- Technology Stocks: Technology stocks, including Alphabet and Amazon, were gaining as expectations for Federal Reserve interest-rate cuts increased.
- Alphabet's Financial Changes: Alphabet appointed Anat Ashkenazi as its new CFO, effective July 31, with Ruth Porat moving to a new role. This led to a 0.6% increase in Alphabet shares.
- Amazon Labor Union Affiliation: An organized labor group of Amazon workers has agreed to affiliate with the Teamsters union, potentially strengthening their negotiating position with Amazon.
- ASML Holding and NXP Semiconductors: ASML Holding's confidence in Taiwan Semiconductor Manufacturing and NXP Semiconductors' partnership with Vanguard International Semiconductor to build a chip manufacturing plant in Singapore led to stock increases.
- SAP's Acquisition of WalkMe: SAP has agreed to buy WalkMe for $1.5 billion to enhance its artificial intelligence offerings, with WalkMe shares rising by 42% in premarket trading.
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: 234.340
Low
250.00
Averages
294.69
High
340.00
Current: 234.340
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.
