Josh Brown On The Setup For Amazon Going Into Earnings

Ritholtz Wealth Management CEO Josh Brown said Thursday on CNBC the setup for Amazon.com Inc AMZN going into earnings is similar to Facebook Inc FB.

Facebook peaked last July and had been underperforming the Nasdaq since that time, Brown said, adding that Amazon has the same chart as Facebook. He doesn't believe there is an excess of bullish sentiment going into the report.

If Amazon "reports a blowout," he expects the stock to react like Facebook, which was up 7%, as opposed to Apple Inc AAPL, which was down at last check Thursday.

Related Link: Apple, Facebook Shares Both Get Boost From Solid Earnings, With Amazon Up Next

Brown noted he is not trading Amazon into the report, but if he were, he said he "would be trading it on the long side."

Brown disclosed that he does own shares of Amazon.

Earnings Preview: Average analyst estimates are expecting EPS of $9.62 and revenue of $104.65 billion. Amazon issued first-quarter revenue guidance of $100 billion-$106 billion during its fourth-quarter earnings report.

Price Action: Amazon was up 0.39% at 3,472.01 at last check Thursday.

Photo courtesy of Amazon.