{"id":44541,"date":"2023-08-04T14:52:07","date_gmt":"2023-08-04T18:52:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/amazons-stock-is-now-a-better-play-than-apples-according-to-this-analyst\/"},"modified":"2023-08-04T14:52:10","modified_gmt":"2023-08-04T18:52:10","slug":"amazons-stock-is-now-a-better-play-than-apples-according-to-this-analyst","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44541","title":{"rendered":"Amazon\u2019s stock is now a better play than Apple\u2019s, according to this analyst"},"content":{"rendered":"
\n

Call it a changing of the guard within Big Tech. <\/p>\n

Amazon.com Inc.
\n AMZN,
\n +9.38%<\/bg-quote>
\n and Apple Inc.
\n AAPL,
\n -4.28%<\/bg-quote>
\n each reported earnings Thursday, and those results prompted Rosenblatt Securities analyst Barton Crockett to change his tune on both names. He upgraded Amazon\u2019s stock to buy from neutral after earnings, while making the reverse move on shares of Apple.<\/p>\n

\n

\u201cOur past concerns \u2014 that consensus views were too optimistic \u2014 have abated,\u201d Crockett said of Amazon. \u201cAs the business resets, with efficiency a new focus for retail, and AI an emerging driver in cloud, the risk of impending economic headwinds looks less worrying, opening the door to higher multiple consumer growth stories.\u201d<\/p>\n

Amazon shares were up 10.7% in morning trading Friday and on track for their largest single-day percentage gain since Nov. 10, 2022, when they rose 12.2%, according to Dow Jones Market Data.<\/p>\n

Crockett highlighted a bottoming of the AWS cloud-computing business as well as opportunities for Amazon to cash in on the wave of interest in generative artificial intelligence here. <\/p>\n

See also<\/strong>: The \u2018stabilization\u2019 of AWS may have been the most significant number for Amazon\u2019s earnings<\/p>\n

\u201cGenerative AI is not yet material, and Microsoft and Google are early brand leaders courtesy of Bard and ChatGPT,\u201d Crockett wrote. \u201cBut Amazon\u2019s scale and history of selling machine learning services, and its investments in core capabilities including custom inferential and training chips, and large language models, argue that it can participate in a rising tide lifts all meaningful boats capacity, if generative AI sparks a new growth phase in the cloud sector.\u201d<\/p>\n

Read<\/strong>: Apple\u2019s Tim Cook explains why he won\u2019t showboat around AI<\/p>\n

Meanwhile, he\u2019s encouraged by better margin performance within the North America retail business, helped by a greater focus on regionalization. <\/p>\n

\u201cFaster delivery speed and better inventory placement means fewer miles traveled, fewer touches and less cost,\u201d he wrote, as he boosted his price target to $184 from $111.<\/p>\n

As for Apple, Crockett worries that the company needs more than just the iPhone to power performance going forward, and it\u2019s not clear when or if a \u201cmaterial new product category\u201d will start to contribute. The company \u201chas a steady drumbeat
of upgrades and enthusiasts, but little reason to expect a big boom in the core iPhone.\u201d<\/p>\n

Apple\u2019s stock was down 3.1% in Friday morning activity and on pace to record its steepest one-day drop in seven months. <\/p>\n

\u201cEven with an emerging-markets outperformance theme, Apple shares we believe could be challenged to improve much if the core Americas region is lackluster,\u201d Crockett added. He kept his $198 price target on the stock intact.<\/p>\n

Opinion<\/strong>:\u00a0Apple is slogging toward a mediocre milestone not seen in 22 years<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Call it a changing of the guard within Big Tech. Amazon.com Inc. AMZN, +9.38% and Apple Inc. AAPL, -4.28% each reported earnings Thursday, and those results prompted Rosenblatt Securities analyst Barton Crockett to change his tune on both names. He upgraded Amazon\u2019s stock to buy from neutral after earnings, while making the reverse move on […]<\/p>\n","protected":false},"author":1,"featured_media":44542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44541","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAmazon\u2019s stock is now a better play than Apple\u2019s, according to this analyst | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Call it a changing of the guard within Big Tech. Amazon.com Inc. AMZN, +9.38% and Apple Inc. 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