Latest news with #TomForte
Business Insider
6 days ago
- Business
- Business Insider
This Is Why Amazon Stock (AMZN) May Struggle in the Near-Term
Tech giant Amazon (AMZN) has been under pressure ever since its earnings report last week. This is because analysts are beginning to worry about its position in the AI market, especially in its cloud business, Amazon Web Services (AWS). Although the company's recent earnings met expectations, AWS revenue grew by 17.5% year-over-year to $30.9 billion, which is a pace that has stayed about the same for several quarters. Meanwhile, Microsoft's (MSFT) Azure cloud grew 26% to $29.9 billion, and Google (GOOG) Cloud jumped 32% to $13.6 billion. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Unsurprisingly, analysts say that Microsoft's partnership with OpenAI is a major reason for its faster growth in AI cloud services. Indeed, four-star analyst Tom Forte from Maxim Group explained that Amazon's investment in Anthropic, a smaller competitor to OpenAI, hasn't had the same impact yet. Nevertheless, five-star analyst Brad Erickson from RBC Capital thinks that Amazon's Bedrock platform, which offers several AI models instead of just one, could attract more developers who prefer flexibility. This could help Amazon over time, but analysts warn that the benefits aren't showing up in its results yet. It is also worth noting that Amazon is spending heavily to catch up. In fact, it invested $31 billion in the second quarter, up from $24.3 billion in the first, to build AI chips, data centers, and other infrastructure. Even so, CEO Andy Jassy admitted that AWS is facing power shortages and server production delays. In addition, analysts added that many customers are only testing AI tools right now instead of fully using them, which is leading to slower revenue growth. As a result, while experts are positive about Amazon's long-term strategy, they say the company needs to prove that these big investments will boost AWS growth back toward 20%. Otherwise, its stock could stay under pressure. What Is the Price Target for AMZN Stock? Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 43 Buys and one Hold assigned in the past three months. Furthermore, the average AMZN stock price target of $264.21 per share implies 23.4% upside potential from current levels.
Globe and Mail
04-08-2025
- Business
- Globe and Mail
Maxim Group Keeps Their Buy Rating on Amazon (AMZN)
In a report released yesterday, Tom Forte from Maxim Group reiterated a Buy rating on Amazon. The company's shares closed yesterday at $214.75. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Forte is a 4-star analyst with an average return of 6.8% and a 44.26% success rate. Forte covers the Consumer Cyclical sector, focusing on stocks such as Jakks Pacific, Beyond Inc, and Allbirds. In addition to Maxim Group, Amazon also received a Buy from Piper Sandler's Thomas Champion in a report issued yesterday. However, on the same day, Wells Fargo reiterated a Hold rating on Amazon (NASDAQ: AMZN). Based on Amazon's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $155.67 billion and a net profit of $17.13 billion. In comparison, last year the company earned a revenue of $143.31 billion and had a net profit of $10.43 billion
Business Insider
02-08-2025
- Business
- Business Insider
Maxim Group Keeps Their Buy Rating on Amazon (AMZN)
In a report released yesterday, Tom Forte from Maxim Group reiterated a Buy rating on Amazon. The company's shares closed yesterday at $214.75. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Forte is a 4-star analyst with an average return of 6.8% and a 44.26% success rate. Forte covers the Consumer Cyclical sector, focusing on stocks such as Jakks Pacific, Beyond Inc, and Allbirds. In addition to Maxim Group, Amazon also received a Buy from Piper Sandler's Thomas Champion in a report issued yesterday. However, on the same day, Wells Fargo reiterated a Hold rating on Amazon (NASDAQ: AMZN). Based on Amazon's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $155.67 billion and a net profit of $17.13 billion. In comparison, last year the company earned a revenue of $143.31 billion and had a net profit of $10.43 billion
Yahoo
15-07-2025
- Business
- Yahoo
Maxim Group Reiterated a Buy Rating on Rumble Inc (RUM)
Rumble Inc. (NASDAQ:RUM) is one of the . On June 16, Tom Forte from Maxim Group reiterated a Buy rating on Rumble Inc. (NASDAQ:RUM) with a price target of $20. The analyst highlighted the recent hiring of Ben Torres Ezrick as Rumble's first Chief Marketing Officer as a key strategic move. Ezrick's experience with major tech platforms like Zoom and Google Maps is expected to boost the company's brand, expand its audience, and enhance monetization. A large flat-screen TV streaming video from a video hosting platform. Forte also pointed to the upcoming launch of the Rumble Wallet, in partnership with Tether, which is expected to diversify Rumble Inc. (NASDAQ:RUM)'s offerings and strengthen its position in the crypto market. The company's solid financial health, including a large cash reserve and no debt, supports these growth initiatives. Rumble Inc. (NASDAQ:RUM) is a video sharing platform that allows users to watch, upload, and livestream videos through its flagship site, While we acknowledge the potential of RUM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
CNBC
01-07-2025
- Business
- CNBC
Apple overpromised and underdelivered with Apple Intelligence, says Maxim's Tom Forte
Tom Forte, Maxim Group senior consumer internet analyst, joins 'Money Movers' to discuss Apple considering using OpenAI or Anthropic to power Siri.
