Amazon's Q2 Will Likely Surprise You

Summary

  • In today's article, I provide a brief review of Amazon's latest events and forecasts for Q2 2024, for which the company is expected to report in 2 weeks.
  • Analysts have raised EPS estimates for Amazon's Q2, making it more challenging to beat expectations, but the company's strong performance in Q1 suggests a potential beat.
  • Despite Jeff Bezos selling shares, Amazon's fundamentals remain strong, with potential for growth and innovation in various sectors.
  • Amazon stock may be still undervalued by ~23.7% based on my DCF fair value calculation.
  • I reiterate the "Buy" rating for AMZN today.
  • Looking for a helping hand in the market? Members of Beyond the Wall Investing get exclusive ideas and guidance to navigate any climate. Learn More »

Amazon sign at head office of Amazon Canada Fulfillment Services Inc in Toronto

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Introduction

I first wrote about Amazon Inc. (NASDAQ:AMZN) stock at the beginning of February 2021 and issued a buy recommendation. Since then, my ratings have fluctuated between "Buy" and "Hold", depending on market developments and my assessment of the company's nearest prospects. My

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This article was written by

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Daniel Sereda is chief investment analyst at a family office whose investments span continents and diverse asset classes. This requires him to navigate through a plethora of information on a daily basis. His expertise is in filtering this wealth of data to extract the most critical ideas. He runs the investing group Beyond the Wall Investing in which he provides access to the same information that institutional market participants prioritize in their analysis. Learn more.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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