Amazon (AMZN) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest market close, Amazon (AMZN) reached $190.26, with a -1.28% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq depreciated by 0.14%.Shares of the online retailer have depreciated by 9.21% over the course of the past month, underperforming the Retail-Wholesale sector's loss of 8.04% and the S&P 500's loss of 6.22%.Analysts and investors alike will be keeping a close eye on the performance of Amazon in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.38, indicating a 22.12% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $154.82 billion, reflecting an 8.03% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.32 per share and a revenue of $697.68 billion, indicating changes of +14.29% and +9.36%, respectively, from the former year.Investors should also note any recent changes to analyst estimates for Amazon. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.19% higher. Amazon currently has a Zacks Rank of #3 (Hold).With respect to valuation, Amazon is currently being traded at a Forward P/E ratio of 30.49. This indicates a premium in contrast to its industry's Forward P/E of 22.05.It is also worth noting that AMZN currently has a PEG ratio of 1.33. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Commerce industry currently had an average PEG ratio of 1.33 as of yesterday's close.The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 64, positioning it in the top 26% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow AMZN in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks