WOW AMAZON DID IT AGAIN WITH RECORD SHATTERING EARNING
Amazon shares were done today due to the hype that we would get a disappointing earning results. But low and behold amzn beat analyst estimate and sky rocketing over 12% after hours on 04/28/2016 that’s about 76 dollars gain per share.
Now this is what happen: The company announced adjusted earnings per share of 77 cents on $29.1 billion in revenues while analyst calculated 58 cents per share on $28 billion in revenues. Revenues are up 28% from the same period ending last year. AMZN also estimated sales for the second quarter to come in between $28 and 30.5 billion while analysts calculated $28.3 billion. Currently analysts have an average price target of $742.05 but with earning report like this we should see a few new upgrades coming out. Looking at the chart you will see that shares are soaring up hitting a high of $680 after hours from the day close at $602.00 n, a 12.9% run in price. $680 is an important pivot point and may cause some resistance as well as 696.44 while support should be met at $660 and $640. Shares are currently trading above their 200-day moving average and look to tap into new highs if they can get enough buyers to keep the momentum going. This will be on a lot of traders radars tomorrow so look for shares to be very volatile with more range and volatility than normal.
About Amazon.com, Inc. (AMZN) (Amazon.com) is an e-commerce company. The Company sells a range of products and services through its Websites. The Company’s products are offered through consumer-facing Websites, which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, Echo and Fire phones. Amazon.com operates in two segments: North America and International. The North America segment focuses on retail sales earned through North America-focused Websites. The International segment focuses on the Company’s operations done through its international Websites. It serves developers and enterprises through Amazon Web Services (AWS). It serves authors and independent publishers with Kindle Direct Publishing.