Amazon ( (AMZN) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Amazon is gearing up for its 11th annual Prime Day event, which will run from July 8 to July 11 across 26 countries. J.P. Morgan analyst Doug Anmuth is optimistic about the event, expecting a 10% year-over-year growth in sales due to the extended four-day duration and attractive discounts. This optimism is shared by Truist Financial analyst Youssef Squali, who anticipates Amazon’s second-quarter results to surpass expectations, driven by strong consumer demand and favorable forex changes. Both analysts maintain a positive outlook on Amazon stock, with price targets suggesting significant upside potential.
Additionally, Amazon’s collaboration with Roku is seen as a strategic move to enhance advertising revenue. This partnership is expected to bolster Roku’s ad inventory monetization and improve its relationships with advertisers. The deal aligns with broader trends in connected TV advertising and streaming video, positioning both companies for growth. Overall, Amazon continues to be a strong player in e-commerce, cloud computing, and advertising, with analysts maintaining a ‘Strong Buy’ consensus for its stock.