Amazon (AMZN) – Prime Growth & Another Bullish Sell-Sider – April 20, 2024

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Amazon (AMZN) – Prime Growth & Another Bullish Sell-Sider – April 20, 2024

Amazon Prime reached 180 million members in the USA with 8% Y/Y growth – per Consumer Intelligence Research Partners. Concerns were building around 2022 and early 2023 about slowing growth here. Many creative reasons were used to explain short-term declines in membership. But the only reason we needed was the historically aggressive pandemic pull-forward and relatedly tough comps. Those tough comps have now been lapped and growth is magically accelerating. What a concept.

In other Amazon news, more sell-siders (DA Davidson and Truist this week) lined up to publish bullish notes on the company. Like all of the other notes we’ve covered recently (and as my investment case spelled out before all of them), profit estimates have not caught up to reality and Amazon is poised to outperform. The only issue here is that every sell-sider is saying this and they are all raising estimates. That raises the bar for success heading into the current quarter. Not relevant for the long term investment case, but relevant for the set-up for those of you utilizing other approaches.

Disclaimer: Third party content is provided for informational purposes only and should not be construed as an offer to sell or a solicitation of an offer to buy or sell any security. Third party content is not intended to serve as a recommendation to buy or sell any security and is not intended to serve as investment advice. Third party content creators are not affiliated with BBAE Holdings LLC, (“BBAE”) Redbridge Securities LLC (“Redbridge Securities”) or BBAE Advisors LLC (“BBAE Advisors”). All investments involve risk, including the possibility of total loss of principal. For additional important information, please click here.

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