Appaloosa Management LP, managed by David Tepper, recently executed a significant transaction involving Amazon.Com, Inc. ((AMZN)). The hedge fund increased its position by 600,000 shares.
Recent Updates on Amazon.Com, Inc. stock
Amazon.com, Inc. (AMZN) has recently experienced significant developments, including a Q4 earnings report that revealed record revenue of $187.8 billion, a 10% year-over-year increase, with operating income rising by 61% to $21.2 billion. Amazon Web Services (AWS) and the advertising segment both showed strong growth, with AWS reaching a $115 billion annualized revenue run rate and advertising revenue climbing by 18% to $17.3 billion. Despite these successes, Amazon faces challenges such as foreign exchange headwinds and AWS capacity constraints, though solutions are underway. Analysts have adjusted Amazon’s price target, with Phillip Securities downgrading it to Accumulate with a $270 target, Truist lowering it to $265 but maintaining a Buy rating, and Deutsche Bank and DA Davidson raising their targets to $287 and $280, respectively, while maintaining Buy ratings. These analyses reflect a consensus on Amazon’s robust fundamentals and potential for continued growth amidst challenges.
More about Amazon.Com, Inc.
YTD Price Performance: 5.69%
Average Trading Volume: 36,974,963
Current Market Cap: $2470.8B
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