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Amazon beats earnings estimates. Stock up 11% AH

Amazon beats Wall Street estimates for 2Q. Shares gained over 11% in after-hours trading:

AMZN AH trading

Amazon lost a lot of value in this bear market. It erased all gains from the 2021 market frenzy. But if you were selling, you made a big mistake. You should be buying, at least, you should be buying now.

AMZN AH trading

Barron’s estimates that this stock will triple in the next few years so the current levels are a great opportunity. That is why I am buying shares of this stock, and I plan to accumulate 100 shares to start selling covered calls and generate “dividends” from holding this stock.

Here are the most significant numbers from Amazon’s earnings today, as compiled by Bloomberg:

  • Revenue: $121.2 billion versus $119.53 billion expected
  • Loss per share: $0.20
  • Amazon Web Services (AWS) net sales: $19.74 billion actual versus $19.4 billion expected

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