We don’t see issues with the long-term story as Amazon remains well positioned to prosper from the secular shift toward e-commerce and the public cloud over the next decade, but we do see a modest reset in terms of growth and profitability through the next several quarters.
The forecasted Amazon price at the end of 2021 is 3,433 - and the year to year change +5. AMZN has a higher market value than 99.93 of US stocks more precisely, its current market capitalization is 1,709,778,646,356. Today, Amazon traded at 3,293.97, so the price increased by 1 from the beginning of the year. Meanwhile, the company continues to rapidly add capacity in order to meet customer demand and one day delivery, even as it roughly doubled its footprint during the past two years. Amazon price started in 2021 at 3,256.93. Guidance for the fourth quarter was modestly below our expectations but has little bearing on our long-term view.
Amazon reported third-quarter results that came in above the midpoints of its guidance range for both revenue and operating income but were still shy of investor expectations. In February, Inc.’s stock closed the price at 2,170.22 per share and in early April, it was notched up by 5.3 to 2,283.32 and as of the 8th of May 2021, share prices are 2,379.61 with forecasted increases. We are lowering our fair value estimate for wide-moat Amazon to $4,100 per share from $4,200, based mainly on margin pressures arising from hiring and shipping challenges, which we think may pressure profitability in the near term and, to a lesser extent, the long term.
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