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Amazon’s earnings are coming—and its stock is slipping.
The tech and retail giant’s shares were down by nearly 3% on Wednesday, outpacing the broader market decline.
Amazon (AMZN) isn’t the only Magnificent Seven stock set to report results this week—they’re due after Thursday’s closing bell alongside Apple’s (AAPL), while Meta Platforms (META) and Microsoft (MSFT) are slated to report later today—but, of the four, they’re making the most dramatic move of the day.
Wall Street analysts will be looking at Amazon’s earnings and revenue growth, as well as the impact of Trump administration tariffs on its business.
The White House may also ask about the incident yesterday, when Amazon was harshly criticized by the White House after a news outlet reported that the company intended to note the effect of tariffs on prices paid for its products. (The company later stated that it considered such an action, but only for a part of its business and ultimately decided against it.
Visible Alpha data shows that Wall Street’s consensus target price is just under $241. This represents a 29% increase over Tuesday’s closing price.
Analysts at UBS maintained a buy recommendation on the stock yesterday, but lowered their price target, from $272 to just $253, citing the possibility of tariffs increasing the cost of goods imported to the US. As a result, consumers may have to “make more difficult decisions” about where to spend their dollars.
