The US stock market is reeling as new dynamic geopolitical changes have pushed the market to adopt a mellow pace. The magnificent seven stocks are also gearing up to change their pace in the middle of this.
Among the seven reputable stocks, Amazon is one such company riding high on the investor radar and grabbing investor attention rapidly. Here’s how it may perform the the short tem.
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Amazon: New Developments
Amazon needs no further introduction as the commercial giant continues to take over the world. Amazon is surging high on the consumer radar as it continues to build and tinker with its cloud computing division. The segment is constantly being revamped to ensure its cloud computing segment can revolutionize the world.
In a recent interview with the CEO of Amazon Web Services Cloud Computing Unit, Matt Garman, AWS is gearing up to appeal to larger organizations, including government and large-scale startups.
“And then we started looking at how do we appeal to larger enterprises, how do we appeal to governments, and how do we appeal to regulated sectors all around the world? And I think one of the things that I’ve just reemphasized—it’s not really a change—but just also emphasizes that we can’t lose that focus on the startups and the developers. We have to do all of those things.” Garman shared.
If Garman’s vision materializes, it could help Amazon surge significantly, adding new waves of change to its stock portfolio. The AMZN P/E ratio stands at 32 times, which can dramatically alter if AWS seeks new momentum through revamped cloud computing services.
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AMZN Share Price Forecast
According to TipRanks, Amazon is currently trading at $186, which may significantly surge to $226 in the next 12 months. Amazon’s share price has a “high” price target of $265, which it may claim soon if it can tweak and be robust in its cloud computing services.
“Based on 45 Wall Street analysts offering 12-month price targets for Amazon in the last 3 months. The average price target is $224.05 with a high forecast of $265.00 and a low forecast of $186.00. The average price target represents a 20.13% change from the last price of $186.51.”
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