Stocks Analysis by MarketBeat.com (Sam Quirke) covering: Amazon.com Inc, Amazon.Com, Amazon.com Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 1784.62 USD AMAZON 31Dec99. Read MarketBeat.com (Sam Quirke)'s latest article on Investing.com
Diving deeper, the fundamental picture is clearly a lot stronger than investors were imagining.) have been working hard to turn things around this year. Through the middle of September, they’d rallied 80% and were less than a 30% move from their 2021 all-time high. Knowing Amazon, and its ability to launch gravity-defying rallies, this felt quite achievable.
Beating analyst expectations on the headline numbers is almost a prerequisite when it comes to enabling shares to rally in the aftermath of a report. Considering the recent dip, Wall Street’s going to have to scramble to re-price shares as the worst-case scenario clearly didn’t come to pass. For those of us on the sidelines, that means we can expect a lot more days like Friday in the coming weeks.Beyond the headline numbers, the good news continued.
Other parts of the business were also impressed, with the company’s Advertising unit in particular, delivering strong revenue growth that helped assuage any raised eyebrows regarding forward guidance that was just about in line with expectations.So with the fundamentals all trending in the right direction and having given investors the best kind of surprise, we also have an attractive technical setup underpinning shares.
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