fbpx
QQQ
-2.71
348.05
-0.78%
DIA
-5.86
344.51
-1.73%
SPY
-7.07
429.04
-1.68%
TLT
+ 2.69
140.35
+ 1.88%
GLD
-0.87
166.72
-0.52%

Why Amazon Stock Has A Lot Of Room To Go Higher

May 5, 2021 5:30 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Why Amazon Stock Has A Lot Of Room To Go Higher

Amazon.com, Inc (NASDAQ:AMZN) has a lot of room to go higher, chief market strategist for Lido Advisors Gina Sanchez said Wednesday on CNBC's "Trading Nation."

Amazon is a staple in the Lido Advisors portfolio, Sanchez told CNBC.

The trend toward e-commerce was already well established before the COVID-19 pandemic, she said, adding that the pandemic "brought in the late adopters and forced them to the party."

The cloud business for Amazon was up 32% last quarter and that just can't be ignored, Sanchez said.

Amazon Earnings: Amazon reported first-quarter financial results on April 29. The company reported earnings of $15.79 per share, beating the estimate of $9.54 per share and $108.5 billion in revenue, beating the estimate of $104.46 billion. Amazon provided revenue guidance between $110 billion and $116 billion for the second quarter. 

"In just 15 years, AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating — up 32% year over year," said Jeff Bezos, founder and CEO of Amazon. 

Related Link: Mark Cuban Puts Money Where Mouth Is With $1M Bets On Netflix, Amazon And Crypto

AMZN Price Action: At market close Wednesday, Amazon was down 1.25% $3,270.54.

(Photo courtesy of Amazon)

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Stephanie Link Sees Continued Growth Momentum For Amazon Stock

Although Amazon.com, Inc. (NASDAQ: AMZN) has lagged behind other FAANG names over the last year, the company's growth momentum will continue, Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors, said Wednesday on CNBC's "Fast Money Halftim read more

Is The Recent Sell-Off A Buying Opportunity For Ethereum?

Josh Brown, CEO of Ritholtz Wealth Management, said he has been adding to his position in Ethereum (CRYPTO: ETH) Friday on CNBC's "Fast Money Halftime Report." read more

Why Jon Najarian Is Bullish On Snowflake

Jon Najarian is bullish on Snowflake Inc (NYSE: SNOW) after earnings, he said Thursday on CNBC's "Fast Money: Halftime Report." read more

Josh Brown Sees 20% Upside For Amazon's Stock Price In 2021

Ritholtz Wealth Management CEO Josh Brown said he is starting to get really excited about the setup in Amazon.com Inc. (NASDAQ: AMZN) Tuesday on CNBC's "Fast Money: Halftime Report." read more