As we have been warning private clients that the tech bubble became too extended and it may be time to reduce your holdings, Amazon (
AMZN) released its third-quarter sales guidance.
The result? Sales guidance fell short of analyst expectations and the stock declined around 5% in after-hours trading today the 1st of August 2024. You can see Aeryn's list of positive and negative aspects of the news at the end of this subscriber article.
Our latest sell signal on 28th July 2024 around $194 now looks a fantastic trade considering
AMZN is at $174 at time of writing (see image below).
The company projected sales within the range of $154 billion to $158.5 billion for the period, missing the analyst consensus of $158.43 billio ...
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