AMZN:NAS has switched to Algo Engine sell conditions, and our holding was sold after generating a 47% return across a 363-day holding period.
Amazon’s results beat expectations, especially on the bottom line. However, the company’s business growth was weaker than that of Meta Platforms, Google, and Microsoft. Amazon is trading at a relatively elevated valuation, with an earnings multiple of 40x.
AMZN:NAS is under Algo Engine buy conditions and is up 88% since being added to our US S&P100 model portfolio on 1/8/2019.
For the December quarter, AMZN posted record revenues of more than $125B, up a whopping 44% on the same time last year. AWS, (cloud services), had net sales of $12.7B with an operating income of $3.6B, more than half of the firm’s overall operating income.
Amazon is under Algo Engine buy conditions and is a current holding in our US S&P100 model portfolio.
We see price support developing near the $1735 level.
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