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The Q2 earnings season was quite mixed for “Magnificent 7” stocks, and only Meta Platforms (META) managed to come up with a really impressive set of numbers. After Thursday's close, both Apple (AAPL) and Amazon (AMZN) reported their respective earnings for the June quarter. While AAPL is trading higher today after its earnings beat, shaking off widespread selling pressure in the stock market, Amazon is trading sharply lower after the e-commerce giant missed Q2 revenue estimates and its Q3 guidance came in below Street estimates.
Notably, Wall Street analysts were quite bullish on AMZN stock heading into the Q2 confessional, and so the report came as a disappointment, even as the company managed to beat earnings per share (EPS) estimates. In this article, we’ll look at Amazon’s earnings and analyze whether it makes sense for long-term investors to buy the stock after the dip.