Is Amazon Stock (AMZN) Still a Buy After Tariffs?
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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.
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Globe and Mail
2 hours ago
- Globe and Mail
President Trump Now Supports Intel CEO Lip-Bu Tan -- What It Means for Investors
Key Points Trump initially wanted Tan to resign as CEO before changing his view after the two met at the White House. It is too early to tell whether Tan's turnaround plan would lead to a comeback for Intel. Intel's valuation may imply little downside. 10 stocks we like better than Intel › U.S. President Donald Trump, who just last week demanded the resignation of Intel (NASDAQ: INTC) CEO Lip-Bu Tan, reversed course on Monday. In social media posts on Aug. 8, the president initially labeled Tan as "highly conflicted" over alleged ties to the Chinese Communist Party, citing illegal actions by Cadence Design Systems (NASDAQ: CDNS) while Tan was its CEO as the proof. After the two met on Monday, Trump now calls Tan a "success," and supports his leadership of the chip giant. The conflicting attention on Tan brought additional scrutiny on the semiconductor stock as it struggles to regain its competitiveness in an industry it once dominated. It also means investors would be well advised to make sense of the news and the implications it might have for Intel shareholders before buying the stock. Lip-Bu Tan and China The initial issue arose after Cadence pleaded guilty on July 28 to unlawfully exporting its semiconductor design tools to a Chinese chip manufacturer and a university with ties to the Chinese military. Tan was Cadence's CEO when these transfers occurred. On Aug. 6, Arkansas's Republican Senator, Tom Cotton, sent a letter to Intel's Chairman of the Board Frank Yeary, asking questions about Tan's China ties. President Trump learned of Cotton's letter soon after, and on Trump Media 's Truth Social platform, he called on Tan to resign "immediately." He stated that there was "no other solution to this problem" but did not provide any additional details. Tan countered Cotton's accusations, releasing a letter to Intel employees on Thursday, Aug. 7, stating that there had been "misinformation" circulating about his past roles at Walden International and Cadence Design Systems. He also affirmed his dedication to U.S. security interests and mentioned Intel's discussions with the Trump administration regarding the issues raised. Intel's board of directors also released a statement supporting Tan and emphasizing the board's commitment to U.S. security and economic interests, noting that Intel's investments, including domestic manufacturing, align with President Trump's stated agenda. Tan then visited Trump at the White House to make this case. An Intel spokesperson described the meeting as a "candid and constructive discussion," outlining the commitment Intel has made to bolstering U.S. leadership in manufacturing and technology. Trump responded by hailing Tan's success and rise as an "amazing story," adding that Tan will spend time with members of Trump's administrative cabinet and bring suggestions to him over the next week. Shareholder implications Intel's stock price recovered after releasing the news. Nonetheless, the challenges that Tan faces in getting Intel back on track remain considerable. Intel's board hired Tan back in March 2025 specifically to turn the company around. After decades of industry leadership, it has fallen behind its top competitors in recent years. Efforts by past CEOs to resolve Intel's issues have so far proven unsuccessful. In 2021, former CEO Pat Gelsinger put forth a plan to regain the technical lead by 2025 and turn its foundries into a third-party chip manufacturing business. The rise of artificial intelligence (AI) accelerators thwarted the company's plans to catch up technically, and its efforts to upgrade foundries were beset with setbacks, prompting Gelsinger to leave the company last year. When Intel's board appointed Tan, it likely hoped that Tan could replicate his previous success at Cadence. Since taking the job, he has streamlined the management team, and now the client group and the data center and AI group report directly to him. Additionally, he elevated Intel's technical leadership and began the process of reducing the workforce to approximately 75,000 employees by the end of the year (a one-year staff reduction of over 30%). Tan has made it clear that a comeback will take years. It's still far too early if his initiatives will succeed. So far, its financials suggest little has changed. Revenue for the second quarter of 2025 was $12.9 billion, amounting to flat growth from year-ago levels. There has also been a considerable increase in costs and expenses, and Intel's Q2 net loss widened to $2.9 billion. Still, the fact that Tan persuaded Trump to reverse course is undoubtedly a victory for the CEO. Additionally, its price-to-book ratio is just over 0.9. Since that means Intel stock is worth less than its assets minus its liabilities, one has to assume its troubles are more than priced into the stock. Should investors buy the pullback in Intel stock? Intel was arguably a speculative buy before this recent news and likely remains so. Indeed, the company faced considerable uncertainty before Trump initially turned on Tan. Although Tan has averted a crisis by winning over Trump, Intel still faces an uphill battle in making the venerable tech giant competitive. However, with its price-to-book ratio under 1, Intel is unlikely to have further downside without conditions worsening further. 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Winnipeg Free Press
3 hours ago
- Winnipeg Free Press
The back-and-forth of trade negotiations between the US and China
TAIPEI, Taiwan (AP) — The United States and China have extended a trade truce for another 90 days, the latest development in a months-long showdown between the world's two biggest economies. Both U.S. President Donald Trump and China's Commerce Ministry both announced postponing the date for a further increase of U.S. tariffs on Chinese imports, which are already at a relatively high 30%. Beijing would have likely responded by raising retaliatory levies on U.S. exports to China. The announcement came late Monday in the U.S. and early Tuesday in China. The pause, which clears the way for a possible meeting later this year between Trump and Chinese President Xi Jinping, is the latest development in a high-stakes back-and-forth of tariff threats and negotiations that have rattled the two economic powerhouses. Here is a play-by-play of how U.S. and Chinese tariffs and trade truces have unfolded since the beginning of Trump's second term in office: Feb. 1, 2025 Trump signs an executive order imposing 10% tariffs on China, as well as 25% duties on Mexico and Canada. He later announces a 30-day reprieve on the Mexican and Canadian tariffs. Feb. 4 The 10% tariffs on all Chinese imports to the U.S. come into effect. China retaliates the same day by announcing a flurry of countermeasures, including duties on American coal, liquefied natural gas and agricultural machinery. March 4 Trump imposes additional 10% tariffs on all Chinese goods, bringing the total level of duties to 20%. China responds with tariffs of up to 15% on imports of key U.S. farm products including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies. March 10 Chinese tariffs and measures announced on March 4 go into effect. April 2 On Trump's so-called tariff 'Liberation Day,' he announces additional 34% duties on all Chinese imports, alongside tariffs on goods from countries around the world. The sweeping tariffs are to come into effect April 9. April 4 China fights back by imposing 34% tariffs on all U.S. goods, effective April 10, as well as other retaliatory measures including more export controls on rare earth minerals. China also suspends imports of sorghum, poultry and bonemeal from several U.S. companies, adds 27 firms to lists of companies facing trade restrictions, and starts an anti-monopoly probe into DuPont China Group, a subsidiary of the U.S. company DuPont. April 7 Trump threatens China with additional 50% tariffs if it doesn't roll back its 34% reciprocal tariffs. April 9 Trump's 'Liberation Day' tariffs come into effect. The U.S. raises tariffs on China even higher than previously announced, to 104%. Beijing retaliates with duties of 84% on U.S. goods, effective April 10. Trump further raises tariffs on all Chinese goods to 145%, effective immediately. April 11 China raises its tariffs on all U.S. goods to 125%, effective April 12. Beijing says it would not raise the duties any further. May 10-12 Chinese and U.S. trade negotiators meet in Geneva, Switzerland, for talks meant to de-escalate their trade war. The negotiators agree to a 90-day deal to slash massive tariffs and restart stalled trade, setting off a rally in global financial markets. U.S. tariffs on Chinese goods go from 145% down to 30%, and Chinese tariffs on U.S. goods go from 125% to 10%. June 9-10 Chinese and U.S. trade officials hold two days of negotiations in London, at the end of which they say they have agreed on a framework for resolving their differences. The talks focus on finding a way to resolve disputes over critical minerals and technology exports that had shaken the fragile truce on trade reached in Geneva the previous month. July 28-29 The two countries hold another round of trade talks, this time in Stockholm. The talks conclude without a deal to prevent tariffs from surging again. Aug. 11 Trump announces extending a trade truce with Beijing for another 90 days, delaying the showdown once again.
Globe and Mail
3 hours ago
- Globe and Mail
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