Amazon.com (AMZN -14.05%) saw a brutal 14% sell-off on Friday following its Thursday night earnings report and is now trading at levels not seen since April 2020. But unlike a name like Netflix (NFLX -4.59%)Now pondering worrying changes to its business model, Amazon’s decline appears overdone and a great buying opportunity over the long term.

While knee-jerk reactions to guidance are the norm for Amazon, long-term investors can find solace in these three uptrends lurking beneath doomsday headlines.

E-commerce results and forecasts were weak, but not on a “stacked” basis

The main issues with Amazon are in its e-commerce retail segments, which appear to have slowed down significantly. First-party (1P) goods actually posted negative growth last quarter, and third-party (3P) sellers fell to single-digit growth — a major slowdown from the pandemic-era. Advertising has been pretty strong, but it’s also slowed down from 76% growth a year ago to just 25%…



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