JPMorgan analyst Doug Anmuth notes that Amazon will hold its annual Prime Day event on July 8-11, pointing out that this doubles the two-day duration of the event for the past six years. The firm expects about 10% year-over-year growth each day in first-party, third-party, and physical store sales relative to Prime Day 2024 during the four-day event, notes the analyst, who also believes “Prime Day’s financial benefits extend well beyond the 4-day event period.” JPMorgan maintains an Overweight rating and $240 price target on Amazon shares.
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