Amazon, NXP Semi, 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 Amazon and Samsung Electronics, were on the rise as expectations for Federal Reserve interest-rate cuts increased.
- Amazon Labor Union: An organized labor group of Amazon's workers has agreed to affiliate with the Teamsters union, potentially strengthening their negotiating position with Amazon.
- NXP Semiconductors and Vanguard International Semiconductor: NXP is partnering with Vanguard to build a $7.8 billion chip manufacturing plant in Singapore, aiming to supply chips to various markets by 2027.
- Samsung Electronics and Nvidia: Samsung's shares rose after Nvidia's CEO reassured about Samsung's high-bandwidth-memory products not failing qualification tests.
- SAP and WalkMe Acquisition: SAP has agreed to acquire WalkMe for $1.5 billion, aiming to enhance its artificial intelligence offerings, with both boards approving the transaction.
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.
