Amazon.com will report earnings on April 30, after the markets close. Analysts forecasts, that EPS for the first quarter will come at $6.35. The revenue expected at about $86.2 billion.
Amazon Web Services (AWS) cloud sales expected to rise by 33.1%. The sector still has plenty of room to run, and the focus on larger enterprise clients will continue to drive gains in 2020.
Amazon the previous week made fresh record highs as the lockdown has fuelled a demand shift to online sellers. The market capitalization has reached 1,153 trillion, with a price/earnings (P/E) ratio at 104.02 and a price to sales (P/S) ratio at 4.22.
Amazon is hiring staff to keep up with increased demand. The company announced the hiring of an extra 75,000 warehouse staff to help it to process the increase in orders. The new staff come on top of 100,000 taken on already since the coronavirus crisis hit the USA last month. Total Amazon global workforce has reached now one million.
Amazon reported $6.47 earnings per share in the Q4, beating consensus estimates of $3.98. The business earned $87.44 billion also beating analyst estimates of $86.09 billion. The revenuE was 20% higher than the previous year Q4. The company has generated $23.01 EPS in 2019 and currently has a price-to-earnings ratio of 100.2.
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Amazon Technical Levels
Amazon stock is 25.70% higher in 2020, while since the March global sell-off is 45% higher. Investors await the earnings report before the end of the month, for fresh clues about the performance of the company during the coronavirus crisis.
The momentum is bullish for AMZN, and fresh highs can’t be ruled out as the consumers continue to spend much the day inside their houses. The first resistance stands at 2,440 the high from yesterday’s trading session. Next critical resistance stands at the record high from April 16, at 2,461.
On the flipside, first support stands at 2,279 the daily low. A break below might test the support at 2,042 the low from April 13. What can cancel the bullish momentum is a move below the 50-day moving average at 2,006.
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