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Buy Amazon shares: Experts Agree ahead of Q3 results.

Updated: Nov 7, 2019

Experts seem to be in agreement: Amazon shares should go up.

A recent Thompson Reuters poll of 48 analysts revealed 26 of these analysts rated Amazon a strong buy with the remaining 22 recommending a buy on the stock. None of the analysts polled suggested selling Amazon Shares.

Consensus Estimates (Results date 24 October 2019)

YOY Revenue growth: (+21.4%) at $58.704 Billion

Operating profit: $3.206 billion

EBITDA: $9.698 billion (+8.7% YoY)

Support levels = 1708

Resistance levels = 1835

Among others Credit Suisse and Goldman Sachs have price targets of $2,400 and $2,350 respectively.

Analysts sight

Record number of bricks and mortar shops closing as being bullish for Amazon.

Some facts on Amazon

A recent survey of hundreds of millennials by business insider asked: What FANG stock they would own if they could only own one? Amazon was the outright winner with 164 votes out of 322 with Alphabet the second most popular at 99 votes.

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