Here’s What This Investor Thinks ‘Could Really Move The Stock’ When Amazon Reports Earnings Today
Amazon.com Inc (NASDAQ: AMZN) has underperformed the market in 2021, trading higher by just 4% year-to-date.
Amazon’s underperformance could set the stock up for a move higher if the company reports better-than-expected sales growth against tough comparable numbers, according to Aureus Asset Management CEO Karen Firestone.
“During the lockdown, everybody was buying Amazon constantly,” Firestone said Thursday on CNBC’s “Squawk Box.”
If Amazon reports sales growth in the high teens, she expects investors to jump back in and buy the stock.
“Anything that’s above, I would say, the high teens in sales growth will be considered a plus and that could really move the stock,” Firestone said.
See Also: What Are Whales Doing With Amazon
There could be some shortages of products as a result of supply chain constraints, but Firestone expects it to be addressed on the conference call. She will also be focused on wages and Amazon’s ability to hire enough people for its distribution centers.
If she were to buy one of the company’s scheduled to report today ahead of earnings, Firestone said it would be Amazon.
AMZN Price Action: Amazon has traded as high as $3,773.07 and as low as $2,881 over a 52-week period.
The stock was up 0.44% at $3,392.49 at time of publication.
Photo: courtesy of Amazon.
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