Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Adam Eckert

Why This Investor Thinks Amazon's Stock Is Well Positioned Ahead Of Earnings

Amazon.com Inc (NASDAQ:AMZN) is set to announce its quarterly results after the market closes Thursday. Sand Hill Global Advisors' Brenda Vingiello thinks the stock could be positioned for upside ahead of its report after underperforming the market for more than a year.

Vingiello expects Amazon to report strong cloud revenue, similar to what Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGLreported on Tuesday.

"It's the e-commerce business that I think is in question," Vingiello said Wednesday on CNBC's "Fast Money Halftime Report."

She told CNBC that Amazon's stock reflects general concerns about tougher e-commerce comparisons. With the stock sitting on the sidelines over the last year while the broader market rallied, "we think a lot of that is baked in," she said.

Amazon is the "go-to e-commerce retailer" and has continued to benefit from stay-at-home trends as COVID-19 variants come and go. 

"I think they are going to continue to benefit from that ongoing shift and their place in the market," Vingiello said.

Related Link: Amazon.com Earnings Preview

AMZN Price Action: Amazon has traded as low as $2,707 and as high as $3,773 over a 52-week period.

The stock was down 1.36% at $2,982.78 at the time of publication.

Photo: courtesy of Amazon.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.