Oct 23
Christmas is Still on at Amazon
Everybody knows I’m very bullish about Amazon and though they have adjusted their guidance for the 4th quarter, to account for the uncertainty, they are still growing in this economy.
Here is what the analysts are saying:
Jeetil Patel - Deutsche Bank “We maintain BUY rating on shares of Amazon, as the fundamental growth (in metrics) remains solid, albeit affected by the strength in the US dollar and modestly by weak consumer spending. While FX headwinds and the current economic downturn have temporarily muted near-term growth and margin expansion, we expect unit growth in 2009 to power 19% operating profit dollar growth, which we think should lead to share price appreciation over the next 12-months.” (Bold is mine)
Justin Post - Merrill Lynch “Three positives for long term shareholders: 1) strong customer growth in 3Q at 17%, 2) midpoint of 4Q guidance implies a still solid ~20% ex-currency rev. growth in 4Q even in the heart of the recession, […]