{ }
Symbol AMZN
Name Amazon.com, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Retailing
Industry Internet & Direct Marketing Retail
Market NASDAQ Global Select
Country United States
State WA
City Seattle
Zipcode 98109-5210
Website http://www.amazon.com
On November 25, 2024, major analyst calls were made regarding several prominent companies, including Nvidia, Apple, Tesla, Palantir, Robinhood, MicroStrategy, Target, and Amazon. These evaluations are expected to influence market trends and investor decisions in the coming days.
UBS has initiated coverage of Arm Holdings with a "buy" rating and a price target of $160, indicating a 20% upside. The firm highlights Arm's potential in AI applications, projecting a 23% CAGR in smartphone royalties and significant market share growth in personal computing and data centers by 2028. Despite a "rich" valuation, UBS remains optimistic about Arm's growth prospects, citing strong R&D investments and enduring royalty streams, while noting risks from geopolitical tensions and competition.
Major U.S. indexes ended the week positively, with small- and mid-cap stocks outperforming larger counterparts despite declines in tech giants like Nvidia and Alphabet. The Russell 2000 rose 4.5%, reflecting a shift in investor focus towards cyclical sectors and smaller companies. Meanwhile, the People’s Bank of China maintained its lending rate, and developed nations pledged $300 billion annually to combat climate change at COP29.
Amazon is set to launch its quick commerce service, codenamed Tez, in India by late December or early January, marking its first global entry into this rapidly growing market. Initially planned for 2025, the rollout has been accelerated as the company seeks to compete with established players like Blinkit, Zepto, and Swiggy Instamart.
Major U.S. indexes ended the week positively, with the Dow Jones up 2% and the Russell 2000 surging 4.5%, as investors shifted focus from large-cap tech to small- and mid-cap stocks. Despite Nvidia and Alphabet facing declines, Amazon's $4 billion investment in AI startup Anthropic highlights ongoing interest in the sector. At COP29, developed nations pledged $300 billion annually to combat climate change, significantly increasing their previous commitment.
US retailers are extending Black Friday deals into weeks-long sales events to stimulate consumer spending, which is showing signs of slowing. Major retailers like Walmart, Amazon, and Target are offering significant discounts, yet general merchandise sales fell 3% year-on-year as consumer confidence remains low amid persistent inflation concerns. Despite forecasts of nearly $1 trillion in holiday sales, growth is expected to be the slowest since 2018, prompting retailers to incentivize purchases across different income levels.
Thanksgiving dinner costs are historically low this year, averaging $58.08 for a 10-person gathering, a 5% decrease from last year. While food prices have risen 19% since 2019, median household wages have increased by about 25%, making this year's meal more affordable when adjusted for inflation. Retailers are competing with promotions, offering various meal packages that cater to different preparation preferences.
Musk's rivalry with Bezos intensifies as Trump’s victory boosts Musk's influence in the space industry. While Bezos attempts to mend ties with Trump, Musk enjoys a favorable relationship, raising concerns among competitors about potential favoritism in government contracts and NASA leadership. Blue Origin fears Musk's ambitions could undermine competition and national security in the space sector.
Wealthy nations at COP29 have raised their climate finance offer to $300 billion annually by 2035 to assist developing countries, following criticism of a previous $250 billion proposal. The negotiations, which have extended beyond the summit's scheduled end, highlight the ongoing divide between affluent countries and those facing severe climate impacts. Developing nations, including Brazil, are advocating for even higher funding levels to effectively combat climate change.
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