Amazon is slumping ahead of its earnings report

  • Shares of Amazon slumped as much as 1.27% in trading Thursday as Wall Street braces for the e-commerce giant’s holiday quarter earnings report.
  • Analysts polled by Bloomberg expect Amazon to report fourth quarter earnings of $US1.83 per share on revenues of $US59.836 billion.
  • Since its last earnings report in October, Amazon has added more than 30% to its stock price, increasing its market value by $US206 billion.
  • Ahead of earnings, millennial investors on the trading apps Robinhood and Stockpile were far more bullish than their older peers. On StockTwits, where users discuss stocks to the tune of 200,000 messages per day, post volume for AMZN has more than doubled.
  • Wall Street analysts, on the other hand, are markedly more bearish. The average price target for shares of Amazon is just $US1,403, according to Bloomberg, 2% below where the stock was trading Thursday afternoon.
  • You can track Amazon’s stock price in real-time on Markets Insider here>>

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