Does MM like Amazon at current levels?
James, Is Amazon a buy at this point?
The Latest Q&A
Answer
Amazon.com (AMZN US) has bounced almost 40% from its mid-June low in line with the strong recovery by the growth / tech sectors. Last week the company reported 2Q earnings which beat expectations on the top line plus it gave upbeat guidance for for Q3.
- Revenue grew 7% to $US121.23bn beating $US119.09 expectations, a good outcome when the stocks been unloved.
In line with our sector / market view after the recent bounce we are now adopting a “sit on the fence” attitude towards growth stocks.
