{ }
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
Big tech's investment in AI is set to bolster the sector, with companies like Microsoft, Alphabet, Amazon, and Meta projected to increase their combined capital expenditures to USD 222 billion this year and USD 267 billion in 2025. Despite mixed earnings results, the growth trajectory for AI remains strong, driven by rising cloud revenue and increased adoption across industries. However, challenges persist in consumer tech, as evidenced by weaker forecasts from Apple and Samsung amid broader economic uncertainties.
US power company stocks, including Talen Energy Corp., experienced a decline following the Federal Energy Regulatory Commission's rejection of Talen's proposal to supply additional power to an Amazon data center near its Susquehanna nuclear plant in Pennsylvania. The commission voted 2-1 against the plan, impacting investor sentiment.
Palantir Technologies Inc. is set to report earnings after the market close on Monday, following a remarkable 140% rally driven by artificial intelligence this year. However, Wall Street's average target suggests a potential decline of over 30% in the next 12 months, reflecting growing caution among investors who seek more concrete results from AI technologies.
Amazon shares show significant potential for growth, with 45 out of 46 analysts recommending a buy and an average target price of USD 235.62, about 19% above the current level. The stock faces one key resistance at USD 201.20, with targets of USD 216.56 and USD 231.79 following a successful breakout. Traders are advised to implement risk management strategies, including setting a stop loss just below the 50-day moving average at USD 184.79.
IG
Apple shares began November down 1.3% to USD 222.91, marking the third consecutive negative trading day and a weekly loss of 3.7%. Despite exceeding quarterly expectations, the stock's outlook has dimmed, with key support levels at USD 221.33 and potential declines to USD 213.92 if downward momentum continues. A recovery requires surpassing USD 223.50 and the August high of USD 225.60.
US stock markets began November positively, buoyed by strong earnings from Amazon and Intel, despite a mixed jobs report showing only 12,000 new jobs added in October. The upcoming FOMC meeting is expected to result in a 25 basis point interest rate cut, as traders adjust expectations amid stronger economic data. Vote counting for the US elections will start mid-week, with results potentially taking hours to several days to finalize, depending on the volume of ballots.
IG
As the U.S. approaches Election Day on November 5, the economy added only 12,000 jobs in October, significantly below expectations, while markets rallied despite the weak report, led by Amazon's strong earnings. In Iowa, Kamala Harris has gained a lead over Donald Trump, indicating a shift in voter sentiment. Investors are closely watching the potential makeup of Congress, as it may significantly influence stock performance post-election.
Affirm has launched its buy now, pay later service in the U.K., marking its first international expansion. The company offers flexible payment options, including interest-free plans, and aims to compete with established players like Klarna and PayPal. CEO Max Levchin highlighted strong demand from U.K. merchants and welcomed potential regulatory measures that promote consumer protection.
Stock futures dipped as investors prepared for the U.S. presidential election, with Dow futures down 0.2% and S&P 500 futures slightly lower. The election's outcome could significantly impact market direction, particularly regarding congressional control, while traders anticipate a 96% chance of a Federal Reserve rate cut. Earnings season continues, with about 70% of reported results exceeding estimates.
The holiday shopping season is approaching, and retail stocks are positioned to perform well, even if consumer spending is lower than expected. According to Telsey Advisory Group, four retail stocks stand out as strong contenders during this period.
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