Is Amazon Stock (AMZN) Still a Buy After Tariffs?
Amazon (AMZN) stock remains a standout investment despite President Donald Trump's ongoing trade war. At least, that's what five-star Wedbush analyst Scott Devitt argued in a note to clients. According to Devitt, 'Amazon is mispriced in comparison with the companies it competes with.' The analyst also called the current AMZN stock valuation 'nonsensical.'
Don't Miss Our End of Quarter Offers:
Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks.
Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter.
The Wedbush analyst pleased Amazon investors with a reiterated Outperform rating and a $280 price target, representing a potential 63.46% upside for AMZN shares. Devitt backed up his bullish stance on Amazon by pointing out that its retail business is expanding faster than Walmart's (WMT) or Costco's (COST).
There's also Amazon's artificial intelligence (AI) business to consider. The e-commerce giant is quickly growing in the AI space. That's a boon to it as analysts, such as Bank of America's Vivek Arya, have argued that companies with strong ties to AI will benefit despite Trump's tariffs. Its cloud computing and data centers are another potential aid to the company.
AMZN Stock Movement Today
Amazon is among the stocks that have started to recover from President Trump's trade war. It helps that the market is beginning to bounce back from Wednesday's Liberation Day event today on news of a potential 90-day pause on tariffs.
For AMZN, this has the stock up 1.05% as of Monday afternoon. That's a welcome change from its 9.14% drop over the last five days and its 21.3% decrease year-to-date.
Is AMZN Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts' consensus estimate for Amazon is Strong Buy, based on 45 Buy and one Hold ratings over the last three months. With that comes an average price target of $268.05, representing a potential 55.32% upside for AMZN stock.
See more AMZN stock analyst ratings
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Iranians react to new Trump travel ban as tensions are high between nations
TEHRAN, Iran (AP) — Iranians again face a U.S. travel ban imposed by President Donald Trump, with the decision drawing anger, frustration and some shrugs given the decades of tensions between the countries. Trump imposed a similar ban during his first term before withdrawing America unilaterally from Tehran's 2015 nuclear deal with world powers, under which Iran drastically limited its program in exchange for the lifting of economic sanctions. But when he returned to the White House and began seeking a new deal with Iran, it saw the country's rial currency improve and stocks rise, but worries have grown as its government appears poised to reject an initial American proposal. The travel ban has further darkened that mood and led Iranians to fear Trump will lump the nations' 80 million people alongside of its theocratic government even after he's repeatedly praised them while seeking a deal. People walk past a state-sponsored anti-U.S. mural painted on the wall of the former U.S. Embassy in Tehran, Iran, Wednesday, May 7, 2025. (AP Photo/Vahid Salemi) 'Now I understand that Trump is against all Iranians, and his attitude is not limited to the government,' said Asghar Nejati, a 31-year-old man working in a Tehran pharmacy. Even in the years after the 1979 Islamic Revolution and subsequent U.S. Embassy hostage crisis, Iranian students traveled to the U.S. to attend universities. Between 2018 to 2024, an average of around 10,000 Iranian students went to the U.S. annually. Estimates suggest some 1 million Iranian-origin people live in the U.S. today. Mehrnoush Alipour, a 37-year-old graphic designer, said the nations could have better relations if they could spoke to each other in softer tones. 'This is another foolish decision. Trump cannot reach his goals by imposing pressures on ordinary Iranians,' she said. 'The two nations can have better relation through openings, not restrictions.' Bank teller Mahdieh Naderi said Trump was lashing out over his frustrationed efforts to reach ceasefires in the Israel-Hamas war and the Russia-Ukraine war. 'Trump just expressed his anger about his failed plans,' Naderi said. 'He is complaining about the Chinese and others who are living in the U.S., too Some said interest in the U.S. was already waning before the latest ban. 'Over the past years, two of my grandchildren went to Canada to continue their education there,' said Mohammad Ali Niaraki, 75. 'Iranians are not limited in immigration and they are not as interested to go to the U.S. as they were decades ago. Iranians prefer Canada, as well as neighboring countries with flourishing economies like the (United Arab) Emirates.'.' But others pointed out that high-ranking government officials have children living or working in the U.S., despite the tensions. 'It's fine, but if he also kicks out the children of officials who live there it would be very nice,' said a man who just gave his name as Mehdi. 'We can't afford traveling to the U.S, almost 80% of us can't. But if he kicks out those who are already there it would be much better.' Tehran resident Mehri Soltani offered rare support for Trump's decision. 'Those who have family members in the U.S, it's their right to go, but a bunch of bad people and terrorists and murderers want to go there as well,' he said. 'So his policy is correct. He's doing the right thing.' ___ Gambrell reported from Dubai, United Arab Emirates.
Canada Standard
5 hours ago
- Canada Standard
Australian PM says not to compromise biosecurity laws in tariff negotiations with U.S.
CANBERRA, June 6 (Xinhua) -- Australian Prime Minister Anthony Albanese said on Friday that his government will not loosen biosecurity laws as it considers lifting a restriction on imports of U.S. beef. The Australian Broadcasting Corporation (ABC) and Nine Entertainment newspapers reported on Friday that Albanese's Labor Party government could use the import ban on some beef slaughtered in the U.S. as a bargaining chip in negotiations for an exemption from U.S. tariffs. Responding to the reports, Albanese said that his government would not negotiate on biosecurity but would be open to a solution that would not compromise food safety. "We'll never loosen any rules regarding our biosecurity," he told ABC radio. Australia lifted a blanket ban on U.S. beef imports, which had been in place since 2003, in 2019 but import restrictions on beef products from Canadian and Mexican cattle slaughtered in the U.S. remain in place. The U.S. administration in March identified biosecurity laws relating to beef imports as a trade grievance with Australia ahead of unveiling the 'Liberation Day' tariffs. The ABC and Nine Entertainment both reported that Australian officials believe that biosecurity laws could be tweaked to allow U.S. beef into Australia without risking safety. It comes ahead of an expected meeting between Albanese and U.S. President Donald Trump on the sidelines of the upcoming G7 Leaders' Summit in Canada. Health Minister Mark Butler, a member of Albanese's cabinet, told Seven Network television on Friday that the beef import restrictions have been under review for "some time." "This will be a decision taken on its merits, not for convenience, not to get a deal. We'll be taking a decision in the national interest in this area," he said. Albanese told ABC radio that he is looking forward to having a face-to-face meeting with Trump and again described the U.S. tariffs as an act of economic "self-harm."
CTV News
5 hours ago
- CTV News
CTV National News: Elon Musk and Trump lashing out against each other
Watch A war of words is beginning to emerge between U.S. President Trump and Elon Musk following the billionaire's White House exit. Joy Malbon has the details.
