The COVID-19 pandemic has decimated the traditional retail sector but e-commerce companies including Amazon (NASDAQ: AMZN) and Shopify (NYSE: SHOP) have largely been immune to the dreaded virus and are trading near record highs. Amazon sales expected to grow 27.3% in Q2. According to Brian Olsavsky, Amazon’s CFO, “Online grocery sales tripled year-over-year.”.

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They’re listening to and learning from us using our Alexa. Walgreens Boots Alliance (NASDAQ: WBA) reported fourth-quarter 2020 financial results before the opening bell on Thursday.

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Manaswita Ghosh Dutta Amazon stock is trading at $3,000, which means it has risen 60% in 2020, easily crushing broader market returns.

Zacks Ranks stocks can, and often do, change throughout the month.

So we’ve got our hands full on that challenge, but we’ve got a really good team that’s been working very hard probably since late February on this issue.”. Stay strategic. Amazon has quietly been acquiring all kinds of voice-enabled health technology companies (check out their Alexa Fund). Apart from shopping, Amazon Prime allows customers to access Prime Video, which is its streaming media service, exclusive shopping deals and free access to Prime Reading’s library of more than a thousand e-books and magazines. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

I was convinced all the low-profit grocery sales and increased cost of doing business would severely negatively impact profit. The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. What’s behind Apple stock’s 25% rally in 2020? July 28, 2020. See its 7 best stocks FREE. Since the COVID-19 pandemic began, many of us are shopping on Amazon more than ever. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

She works with suppliers on e-Commerce strategy and execution, and writes, speaks, and teaches on commerce-related topics.

Amazon is also the largest players in public cloud, a market leader in online streaming, owns the largest game streaming platform and is the third largest digital ad platform.

Amazon stock’s valuation is sky-high and may warrant a pullback. Do you wonder why they’re keeping that under the radar for now?

Now, amid the COVID-19 pandemic, the company will be spending heavily on employee safety, which will drive operating costs higher. I guess the great vendor profit claw-back I predicted is not coming after all.

For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking. Amazon reported earnings for Q2 2020 on July 30th.To no one’s surprise, Amazon has had a big quarter. Is he happy about it?”.

Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Amazon’s services such as drive-in-grocery delivery and cashier-less stores also boosted demand. Finding ways to thrive, versus just survive, will put you ahead of your competitors as we adjust to the New Normal.

By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms and Conditions of Service. Shares have gained over 2,400% in the last 10 years. The rising number of Alexa compatible smart devices is gradually increasing Amazon’s reach into digital homes.

The level of disruption made me realize how thin they keep their inventory (typically 2-3 weeks of cover, and often less for tail assortment.) Despite the hefty losses incurred so far in 2020, ... and shown sequential gains in both Q1 and Q2 for revenues and earnings. Amazon earnings release reveal that revenue came in at $88.9B, +40% Y/Y (vs +26% the previous quarter), and +18% Q/Q. A 10-year former senior exec at Amazon, she worked on the launch and management of automated pricing, the Prime program, Amazon Fresh, and even Harry Potter book launches. Analysts tracking Amazon stock expect the company to post sales of $80.72 billion in the second quarter of 2020, indicating a year-over-year growth rate of 27.3%. NASDAQ data is at least 15 minutes delayed. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Amazon will win by continuing to invest while others cannot. AMZN Earnings Call - Final Transcript.
Also, the current coronavirus pandemic is crowding out any news about Amazon’s expansion activities.

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