There’s nonetheless quite a bit to love about Amazon (AMZN) inventory, although the corporate’s coming off a tough yr, JMP Securities Equity Research Analyst Nick Jones lately advised Yahoo Finance Live (video above).
Amazon had a tough 2022, one by which the corporate’s inventory tumbled greater than 40% all year long. The firm’s been battling excessive inflation, rising charges, and a gradual promoting market, and lately introduced it might up the variety of layoffs it was doing in its company workforce from 10,000 to 18,000.
Nevertheless, Amazon’s nonetheless headed in the appropriate route in response to Jones. “We like Amazon investing in future know-how, we like them investing in progress,” he mentioned. “For us, we do not suppose it has to occur. We just like the inventory from right here, as we speak.”
The layoffs, Jones mentioned will not be dangerous information for the corporate’s outlook.
“It’s a really small chunk of their workforce,” he mentioned, as Amazon’s complete company workforce is about 300,000 sturdy. “We view it as, ‘They’re beginning to take a look at…
2023-01-14 08:10:55 ‘We still like the stock,’ analyst says following layoffs
Original from finance.yahoo.com