Eventually, they rose 1.42% on the NASDAQ to $ 108.92. The focus of investors in the online giant was primarily to encourage analyst comments.
JPMorgan analyst Douglas Anmuth slashed his assumptions for US Internet stocks and thus Amazon’s price target to $ 175 on Wednesday due to current economic and consumer concerns. For the expert, the online retailer remains one of the “top ideas” in the industry. The new price target promises at least 60% upside potential. After a stock split, stocks had recently approached the $ 100 mark, and thus the adjusted April 2020 level.
The online giant also referred to an upbeat study by analytics firm Redburn, which sees a spin-off of Amazon’s cloud division as an extremely attractive option. The Web Services division is so powerful that a divestment from the less-growing core Commerce business could become promising at some point. The study speculates that the cloud division could soon be worth $ 3 trillion.
That would be nearly three times the present value of the entire retail conglomerate, which fell to around $ 1.1 trillion in the wake of the recent technology turmoil. Adjusted for a stock split, the record in the summer of 2021 was $ 188 and in November the price had approached again. Since then, however, the entire sector has been in rapid decline, partly due to fears that rising interest rates could stifle growth. Newspapers had recently dropped to 46% off their record level.
/ tih / bek / men
NEW YORK (dpa-AFX)
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