Stocks to Watch Next Week – Amazon

Over the next five days, nearly a third of the S&P 500 companies, industrial names like Boeing (NYSE:BA) and Caterpillar (NYSE:CAT), as well as tech giants like Facebook (NASDAQ:FB) and Amazon, are with expectations for the rest of this year. It is scheduled to publish its latest figures. Amid strong economic recovery signals, investors are concerned about global supply chain disruptions that are driving prices up and threatening future growth. Nearly 84% of companies that had previously reported exceeded estimates. According to I/B/E/S data from Refinitiv, earnings are expected to increase 34.8% year-on-year so far, based on actual reports and forecasts. During this crucial week for the third quarter earnings season, we'll focus on three key tech giants whose earnings can help clarify whether they're still taking advantage of the pandemic-driven demand boost that has driven their stocks to record highs in recent months:

2. Amazon

Online retail giant Amazon (NASDAQ:AMZN) will announce its third-quarter earnings after the market closes on Thursday. There are estimates that the world's largest e-commerce company will report sales of $111.62 billion and generate a profit of $8.91 per share. Since the outbreak of Covid-19 in March 2020, Amazon's sales have increased as stay-at-home people make more and more purchases online. But there are signs that the pandemic-related blast is starting to cool. In July, Amazon reported sales and forecast that fell short of expectations as economies opened up and some consumers returned to their old buying habits. Investors will focus on this slowdown trend for the company's core e-commerce business, which Chief Financial Officer Brian Olsavsky says will continue throughout the year. This is the main reason why Amazon shares fell nearly 8% in the last quarter. They closed at $3,335.55 on Friday.   Stocks to Watch Next Week – Amazon Source: Invesing.com You may also be interested in: Stocks to Watch Next Week – Apple