Amazon Becomes The Biggest Winner In The New Coronavirus Epidemic


Amazon

In the US-listed companies, the stock price of Amazon has benefited most from the recent outbreak of the new coronavirus.

Since mid-February, Amazon’s market value has risen sharply by $90 billion, setting a record high. The company’s founder and CEO Jeff Bezos fortune increased by $5 billion.

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In recent weeks, optimism about the gradual recovery of the US economy has pushed the US stock market to rebound. However, the S&P 500 index has fallen by 13% since February 19. As tens of millions of people stayed in isolation at home and online shopping developed rapidly, Amazon’s stock price rose 9% during this period, including a 2% increase on Wednesday.

Brian White, an analyst at market research agency Monness Crespi, said in a research report on Tuesday: ‘During this crisis, Amazon has proven irreplaceable in delivering the daily necessities to people around the world, a fact that we believe will increase the number of customers on the platform, expand the list of products purchased by existing customers, accelerate the shift to eCommerce at large and enhance the company’s brand.’

stock price of Amazon

According to Refinitiv statistics, 49 analysts, including White, currently rate Amazon stocks as “Buy”. Only 2 analysts rate it as “Hold” and no one recommends “Sell”.

Today We Will Learn More About Stock Price Of Amazon

Amazon will announce its quarterly financial report later today at which investors will be able to understand what impact the global epidemic will have on Amazon’s retail business in the last month of the last quarter and the performance of Amazon’s AWS cloud computing business. In addition, investors may also be concerned about how Amazon thinks the outbreak will affect the business in the next few months. Also, they should know whether the company’s continued investment in Prime delivery services will be affected or not.

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Overall, since February 19, about 50 stocks in the S&P 500 index stocks have risen. Only a few of them have been directly affected by the epidemic and changes in consumer behavior. Among them, we can mention the Gilead Science and General Mills.

Analysts currently expect Amazon’s revenue to increase by 23% last quarter to $ 73.61 billion. The adjusted earnings per share should reach $6.25.

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