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AMZN stock rose in morning trade on December 28, 2021, after the stock was named a top pick for 2022 and other positive analyst mentions.

Evercore ISI’s Mark Mahaney announces top internet picks for 2022

On December 28, 2021, with interest rates rising and global economies “hopefully opening” in 2022, Evercore ISI analyst Mark Mahaney is taking a “more muted/cautious stance” on the internet space, which he calls a “relatively high-growth, high-multiple” sector going into 2022. Within the mega caps, Mahaney’s top picks, in order, are Amazon.com (AMZN), Uber Technologies (UBER) and Meta (FB). Within the large caps, the analyst’s top picks, in order, are Roku (ROKU), Chewy (CHWY) and Spotify (SPOT). Within the smid-cap space, Mahaney’s top picks, in order, are Bumble (BMBL), Wix.com (WIX) and Duolingo (DUOL). The analyst says Amazon is “arguably the single best fundamental asset in Net-land.” He believes the company’s “massive” 2020 and 2021 infrastructure investments should begin to pay dividends in 2022. For Roku, he views the company’s average revenue per user upside as being underappreciated and its supply chain headwinds as transitory. Mahaney views Bumble as a “clear reopening play” with upside to the Street’s payer and EBITDA margin estimates.

Amazon exiting crisis as ‘one of the biggest beneficiaries,’ says Monness Crespi

On December 27, 2021, Monness Crespi analyst Brian White notes that Amazon shares have trailed this year’s “healthy market rally” after a strong stock performance in 2020, but after having attended AWS re:Invent earlier this month White contends that Amazon is “uniquely positioned to exit this crisis as one of the biggest beneficiaries of accelerated digital transformation.” The analyst, who noted that AWS CEO Adam Selipsky pointed out during his keynote that AWS now has 84 availability zones across 26 geographic regions and offers over 200 fully featured services while serving millions of customers, believes “the company’s fortunes are poised to change in 2022.” White has a Buy rating and $4,500 price target on Amazon shares.

More companies announce no shows for in-person CES amid Covid jump, Reuters says

On December 23, 2021, several companies joined the no-show list for in-person CES attendance next month, including General Motors (GM), Alphabet (GOOG,GOOGL)-owned, self-driving auto-technology company Waymo, reported Reuters. Several other companies, including Facebook parent Meta Platforms (FB), Twitter (TWTR), Lenovo Group (LNVGY), AT&T (T) and Amazon (AMZN) declined in-person representatives earlier, due to the Covid variant Omicron spread, wrote Paresh Dave and Ben Klayman for Reuters. Mary Barra CEO of General Motors, had been set to give the keynote speech for the early January conference, “during which the company would have shown its electric Silverado pickup truck for the first time. Barra will still make the speech and presentation over the internet,” notes Reuters in the story. Source: https://www.reuters.com/business/autos-transportation/alphabets-waymo-says-no-longer-going-consumer-electronics-show-person-due-covid-2021-12-23/

Amazon caps number of at-home Covid tests shoppers can purchase, CNBC says

On December 23, 2021, Amazon (AMZN) started limiting the number of at-home Covid tests shoppers can purchase to 10 units per shopper as the omicron surge spurred shortages, CNBC’s Annie Palmer reports. Walgreens (WBA) and CVS (CVS) previously limited purchases. An Amazon spokesperson told CNBC that the company is experiencing inventory shortages of some Covid tests due to increased demand. The company is working to secure additional Covid test inventory from its selling partners, the spokesperson said. Source: https://www.cnbc.com/2021/12/22/covid-tests-amazon-limits-number-of-tests-you-can-buy.html

📽 5 Reasons to Buy Amazon Stock Now 💰 $AMZN Stock Analysis

5 Reasons to Buy Amazon Stock Now 💰 ($AMZN Stock Analysis)

📈 AMZN Stock Technical Analysis

Both the short term and long term trends are neutral. The large players volume is bullish. AMZN is one of the better performing stocks in the Internet & Direct Marketing Retail industry, it outperforms 83% of 81 stocks in the same industry. AMZN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so AMZN is lagging the market. There is a support zone ranging from 3309.04 to 3400.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is a resistance zone ranging from 3432.12 to 3471.31. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. AMZN has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 3400.27. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3357.88, a Stop Loss order could be placed below this zone.

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