Amazon (AMZN) stock is becoming a favorite of investors. Not only do Wall Street analysts favor it, but CNBC’s Jim Cramer and Strategic Wealth Partners president Mark Tepper are also enthusiastic about Amazon stock.
Amazon stock outlook
According to CNBC, Amazon stock is one of Mark Tepper’s top picks. He believes that Amazon has three growth drivers to boost its earnings—its e-commerce platform, its AWS segment, and its advertising business.
With respect to Amazon stock, Tepper said, “It’s trading in the mid-$1,700s right now. We think fair value is somewhere between $2,000 and $2,400 so plenty of upside here.” The stock’s stated fair value implies about 16%–39% upside from the current level.
Cramer also sees about 20% upside in Amazon stock. To learn more, please read Amazon Stock: Cramer Sees More than 20% Upside.
Amazon (AMZN) stock has fallen 0.7% so far in October. In September and August, the stock fell 2.3% and 4.8%, respectively. Since its second-quarter earnings, Amazon stock has fallen 13.8%.
Source: marketrealist.com October 4, 2019