Amazon (AMZN) – More Bullish Notes – March 16, 2024

By Brad FreemanMarch 17, 2024Posted in Stock Insights

Third-Party Content. Provided for informational purposes only. Not investment advice or a recommendation to buy or sell any security. See disclosure here.

Amazon (AMZN) – More Bullish Notes – March 16, 2024

Another day, another positive Amazon note pointing to more margin outperformance. Wells Fargo now sees its North American margin for 2024 reaching 6.7% vs. 6.0% previously. That may not sound significant, but it is. Based on Amazon’s 2023 North American revenue run rate, this boost would have been worth $2.5 billion in 2023 EBIT. That represents a 7% boost to its actual 2023 results. More ad revenue; more 3^rd party selling; more fulfillment localization; better capacity utilization… and? Exploding margins.

Source: Brad Freeman – SEC Filings, Company Presentations, and Company Press Releases

Cantor Fitzgerald also raised its cloud service provider growth to 20%+ this year vs. 17.5% previously after chatting with the AWS Head of Financial Institutions.

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Meet the Author

Brad Freeman

Stock Market Nerd, BBAE Contributor

Meet Brad Freeman, an independent financial analyst on the BBAE blog, and publisher of the popular StockMarketNerd newsletter. He's known for his thorough, candid takes on many of the most widely-held stocks’ earnings reports — and some less-known companies that Brad feels hold promise. When this University of Michigan finance grad isn't sharing his financial wisdom with his readers, he passionately supports his hometown Detroit sports teams. Keep an eye out for Brad's market analysis and insights.

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