Amazon Revenue Beats But Amazon Web Services Cloud Business Growth Misses

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    Morgan Stanley lowered its price target on Amazon to $2,200 from $2,300

    “Focusing on the long-term while acknowledging the near-term could be volatile. Our lower near-term profitability drives down our sum-of-the-parts-driven AMZN PT to $2,200 per share (from $2,300 per share) as we remain OW (with ~20% upside). This is because over the long-term, AMZN’s push toward 1-day (effectively raising shopper expectations) will likely only deepen their moats and share-gains against competitors.”


    Amazon Reports Thursday

    Amazon reports earnings after the market closes. Wall Street is looking for $4.59 EPS on $68.8 billion of revenue, according to FactSet.

    The stock is up more than 17% year to date, but shares are off more than $263 from its $2,020.99 mid-July closing high.

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