Opinions Brenda Vingiello, CIO, Sand Hill Global Advisors
Amazon.com, Inc.AMZNBUYAug 04, 2023
Stock price when the opinion was issued
As of Jun 23, 2026. Market Open.
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Earnings driver is actually the cloud, in a bit of a lull of late, but picking up steam. He's still long the stock in his growth strategy.
Brendan Caldwell
Very strong business with diverse business model. High margin AWS business excellent. Recent investments in storage beginning to pay off. Company becoming more and more profitable. Brand value also very strong. Advertising business has huge margins. Believes earnings will continue to grow.
Top pick amongst "Magnificent 7". Every business unit continues to grow. AWS, content and eCommerce business sectors growing steadily. Investment into assets will continue to payoff. Earnings growth expected to triple as investments payoff. Dominant position hard to compete with.
Bruce MurrayNobody has its scale or logistics in e-commerce. Still the leader in cloud, and AI will enhance that. Strong growth ahead for digital advertising, which is #3 behind GOOG and META. Advantage is that AMZN can easily direct ads plus see impact of ads on sales.
Paul Harris, CFAMarket's a bit rich and overbought. Latest run the past 2-3 weeks has been all about the USD weakening. Still a decent runway. King of the cloud market, 70% market share. Large-language model announced. 12-month price target of $165. No dividend.
(Analysts’ price target is $180.06)
Kim BoltonCompounder. Have to hold your nose to buy at current valuations, but you only have to look 2-3 years down the road to get to a more comfortable valuation. AWS is a driver, and AI will really come to the fore over the next 2 years. Invested heavily in e-commerce, and it's starting to see some profitability, juggernaut of the future.
Gordon ReidGen AI will continue to be a force among the Magnificent 7. Nvidia and Microsoft will remain the leaders, but the two sleepers that can outperform Apple in 2024 are Amazon and Alphabet. Apple is quality growth, which he likes, but in 2024, Apple might take a backseat to the rest of the Mag 7.
Excellent company with strong assets in cloud computing and Amazon Web Services. eCommerce also continuing to preform well. Participated in "Magnificent 7 Rally". Has been earnings estimates the past 3 quarters. Increased demands in A.I. will contribute to demand in web services. Profit margins are exceptional in software. Will continue to hold. Believes growth is sustainable and will continue.
Brianne Gardner
Lots of opportunity in A.I. area. Recognition in AI tech not as widely recognized by markets. Expecting growth into A.I. presence. Power and scale of company will allow company to compete in tech of A.I.
Gordon Reid
It is the biggest player in e-commerce and has a variety of products. Soon it can even sell cars. Also it is growing its cloud business. In addition it has a huge advertising business which is competing with Google and others. It has cut back on costs and is well structured.
Paul Harris, CFA
Operating margins came in 3x better than expectations. There were strong results in this report and investors have been waiting a long time for that. Earnings have been suppressed by all their reinvestments and this will continue. Amazon won't be greatly impacted by moves in interest rates, though the sector has. This will rebound when we end the rate-hiking cycle--and we're near that. Amazon has more growth potential than Apple. Despite its size, Amazon still has only a small portion of global sales. Apple still has growth in services, emerging markets, but the installed base of users is enormous at 2 billion. Apple is more of a maturing company, and that's okay; Apple is predictable. Apple trades at a high PE of 30x, but that isn't sustainable for the next several years.