Wall Street analysts think investors should buy the dip in Amazon, call cloud business a ‘bright spot’

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Wall Street analysts think investors should buy the dip in

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, call cloud business a ‘bright spot’

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, according to some Wall Street analysts. “We believe current levels represent a compelling entry point in our view for one of the better earnings growth stories in large-cap tech,” wrote Deutsche Bank’s Lee Horowitz. The commentary comes on the back of

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’s disappointing second-quarter report . The e-commerce giant shed more than 12% on Friday after reporting a revenue miss and issuing weak guidance. Deutsche Bank’s Horowitz, who has a buy rating on shares, isn’t alone in urging investors to take advantage of Friday’s sell-off “Zoom out,

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is already living up to its potential,” said Bernstein’s Mark Shmulik, positing that the reset creates an attractive entry point for investors. “Step in.” The analyst has an outperform rating on the stock. A ‘bright spot’ in AWS Despite Thursday’s disappointing results, many Wall Street analysts are finding the positive in the company’s

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Web Services division. The segment topped estimates , growing 19% year over year. Many expect this business to continue gaining steam, with Susquehanna Financial Group’s Shyam Patil referring to this acceleration as a “bright spot” in the results. Patil has a positive rating on shares. Morgan Stanley’s Brian Nowak added that this “acceleration should give the market more confidence in AWS’s forward positioning (in the early GenAI ecosystem) and growth to come.” The analyst retained his overweight rating and $240 price target, implying 30% upside from Thursday’s close. Evercore ISI’s Mark Mahaney referred to accelerating AWS growth as one of “three fundamental catalysts” for the stock. He projects that AWS can attain 20% year-over-year growth, supported by gains in Prime Video Ads during the back half of the year and AI workloads. Mahaney rates

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as outperform. Bank of America’s Justin Post named the stock the firm’s top large cap picks, citing the AWS acceleration and opportunity within artificial intelligence. “We’re encouraged by AWS growth & its positioning across the full GenAI tech stack, & we believe AWS can continue to tighten the GenAI gap w/other leading players,” wrote JPMorgan’s Doug Anmuth, projecting that growth can reach 20% in the third quarter and 21% by the fourth quarter of this year. Anmuth has an overweight rating on the stock.

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#Wall #Street #analysts #investors #buy #dip #

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#call #cloud #business #bright #spot

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