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Barchart
Anushka Dutta

Wedbush Is Betting on Amazon Stock for a Ceasefire Rally. Should You Buy AMZN Here?

Amazon Wedbush Stock Amazon.com Inc. United States AWS

Wall Street has bounced back on the news of the ceasefire between the U.S. and Iran. While this might not signal the end of the war, so far, stocks are overjoyed at the prospect of the heated exchanges stopping, albeit expectedly for a short time. Against this backdrop, Wedbush analysts believe the “Magnificent Seven” stocks and tech names might see a “risk-on” environment. Analysts wrote that the geopolitical backdrop has created an oversold situation for the seven extraordinary names. 

Magnificent Seven extraordinaire Amazon.com (AMZN) has also experienced a dip due to the current situation and investor concerns over its rising capital expenditures. But, with Wedbush’s vote of confidence, should you consider investing in the stock now?

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