Both companies will present their latest reports which will define how the trend of their share prices will continue.
The company with the highest stock market value in the world, Applewill present its income statement corresponding to the third quarter of 2024, as well as amazonthe global e-commerce giant. It will be in the aftermarket and there is enormous expectation.
It should be noted that, in the previous one, JP Morgan analyst Samik Chatterjee maintained a rating of Overweight for Apple and assigned a target price of US$265 per share. This rating reflects Chatterjee’s constructive outlook on the economic cycle. iPhonedriven by the benefits of artificial intelligence and resilience in service revenues relative to investor expectations.
Furthermore, the analyst highlighted the positive potential in various aspects of the business, particularly in the company’s transformation towards services, growth of the installed base, leadership in technology and options related to capital allocation
Another who will report his last balance will be amazoncurrently the fifth company with the largest market capitalization on the planet, since it has about US$2 trillion, and there is a normal expectation regarding the market regarding the presentation of its numbers corresponding to the last quarter.
In the previous, Bank of America (BofA) ratified its favorable stance on its shares and maintained its buy recommendation. “We expect a mixed third quarter, with the retail segment aligned with expectations and Amazon Web Services (AWS) exceeding expectations, although with possible pressure on 3P rates” , he highlighted in a report.
Specifically, BofA Amazon estimates that it will have revenue for the third quarter of $157 billion, which is 20 basis points (0.2%) below the average market estimate of $157.3 billion.
However, BofA analysts are 2.1% above consensus for GAAP operating profit (generally accepted accounting principles), estimated at $15 billion compared to $14.7 billion consensus.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
