Amazon Shuts Physical Stores to Expand Whole Foods
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3h ago
0mins
Source: CNBC
- Market Performance: On Tuesday, the S&P 500 reached a new all-time intraday high, although market leadership remains focused on technology stocks and the Magnificent Seven, indicating a growing investor focus on corporate earnings.
- Amazon's Strategic Shift: Amazon announced the closure of its Amazon GO and Amazon Fresh physical stores, converting several locations into Whole Foods markets, with plans to open over 100 new stores in the coming years, reflecting a strategic upgrade in its retail model.
- Competitive Pressure: Amazon's Whole Foods expansion plans may pressure Costco, as the latter could benefit from nationwide pantry loading in the short term, but attention must be paid to its membership renewal rates amidst increasing market competition.
- Upcoming Earnings Reports: Over the next 24 hours, companies like Texas Instruments and Seagate Technology will report earnings, with the market closely watching these results for their impact on stock prices, while the Fed meeting is expected to keep interest rates unchanged, further influencing investor sentiment.
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: 238.420
Low
250.00
Averages
294.69
High
340.00
Current: 238.420
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.
