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A growing economy coupled with new applications and convenience of online shopping could provide a catalyst to businesses that sell merchandise through online channels.
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During the third week of October, Amazon Inc. (AMZN) stock rebound. Compared to week 1 and week 2, the third-week patterns were somewhat different.
Kenneth Fisher is the founder of Fisher Asset Management LLC. He in July 2016. But now he's the executive chairman of Fisher Asset Management.
Shares have risen fivefold in five years and despite the shadow over tech analysts bet Amazon is immune to a backlash. Remember when Silicon Valley was a force for good? With their young bosses, origins in garages and revolutionary products, US tech companies were worshipped for bringing information, choice and innovation to the world. As reporting season for the US tech sector revs up this week the sheen has come off as campaigners, politicians and the wider public have asked questions about the darker side of the digital revolution. Facebook, Amazon, Google’s parent, Alphabet, Microsoft and Apple are all reporting in the next couple of weeks. Misuse of people’s data, aggressive tax avoidance, treatment of workers, enabling hate speech and the sheer size and power of the tech giants are all in the spotlight. The US government is conducting an antitrust review and Elizabeth Warren, the new frontrunner for the 2020 Democratic nomination, has pledged to break up the digital monopolies. Amazon, which reports third-quarter results on Thursday, is a case in point. Jeff Bezos’s company has faced repeated questions about working conditions at its warehouses in the US and the UK, where it is running an ad campaign featuring happy workers. Critics hold it partly responsible for the crisis on the high street. Amazon’s sprawling business – from retail sales and computer gaming to advertising and entertainment streaming – is in Warren’s sights and in Britain the competition authorities are investigating its investment in Deliveroo. It could also be affected by proposals to make big tech companies pay more tax in countries where they make sales. The Seattle-based company has told investors to expect third-quarter sales to jump by as much as 24% to a maximum of $70bn as it piles on revenue from cloud computing and its Prime service’s one-day delivery offer. Operating profit, though, is set to fall from $3.7bn to between $2.1bn and $3.1bn as Amazon spends on transport to expand its fast delivery offer. Amazon’s shares have fallen by about 10% since disappointing second-quarter results in July as investors digested its heavy spending message, amid general wariness about the tech sector made worse by dud share sales by companies such as Uber, Lyft and Slack. Neil Campling, head of technology research at Mirabaud Securities, said: “There is an overhang on big tech at the moment which is weighing on Amazon. You have got very high expectations and companies with very high valuations, and when a sector is priced for perfection that creates extra risk.” The shares are worth more than six times what they were just five years ago and Wall Street analysts reckon there is more to come. The company has so many irons in the fire that it’s hard to understand what’s going on. Supporters have to believe that its size, ability to invest and Bezos’s relentless focus on keeping customers happy is a magic combination. Andrew Murphy, managing partner of US tech investor Loup Ventures, says Amazon is still a high-growth company because of its willingness to experiment, and will escape a forced break-up despite its size. “While they’ve demonstrated the capability of turning on the profitability spigot at will in a given quarter, they are still in investment mode,” Murphy said. “Amazon will experiment and spend to test seemingly anything.” Is Amazon a risk-taking innovator or a relentless sucker up of other people’s business? Campling points out that Amazon’s cloud service supports many other companies, “creating an economy of its own”, but adds that Amazon can use the information it gets from the service to move in on the next trend. “Amazon is affecting every part of our lives,” Campling said. “Some people will think it’s the devil and others will think it gives us choice.”
About 12 per cent of the top 50 US stocks held as overweight positions by hedge funds and traditional mutual funds are owned by both sets of managers, according to Bank of America Merrill Lynch. Savita Subramanian, head of US equity and quantitative strategy at BofA, said strong momentum effects in the US market were one possible explanation.
Analyst Christopher Eberle reiterated a "buy" rating and a price target of $161 on Microsoft stock. He predicts that Azure could grow 61.6% in Q1.
In the October 18 trading session, Alibaba Group Holding Limited (BABA) stock is trading at $170.14, down 3.79% from the previous session.
Snap announces new advertising product, Dynamic Ads to boost advertisement revenues from retail, e-commerce and other direct-to-consumer (DTC) brands.
Facebook's (FB) Watch to receive sports-related digital shows and content from recent partnership with Fox Sports amid the intensifying sports streaming battle.
Microsoft (MSFT) partners Nuance Communications (NUAN) to deliver robust conversational AI and ambient intelligence technologies to transform doctor-patient interaction.
Credit card hacker group FIN7 has returned after a year of laying low. In the past the group stole card info from Chipotle, Chili's Arby's red Robin, Sonic, Trump Hotels, Whole Foods, and Hudson Bay stores.
Old Mutual selects Amazon's (AMZN) AWS as the preferred cloud provider, which highlights the reliability of the company's cloud computing services.
Solid Q3 results have encouraged firms to jack up their price targets for Netflix (NFLX), making it pricey. For small investors, we have picked media stocks that are low-priced and have growth potential.
Intel stock has lagged far behind the broader semiconductor industry's 2019 climb. So let's take a look at what to expect from Intel's upcoming Q3 2019 earnings results to see if INTC stock might be set to pop...