🌈🌈🌈My Top Pick For Group E is $Amazon.com(AMZN)$
Amazon share price has had a difficult 2022 so far and its share price has dropped a massive 45% this year. This is due to macro headwinds like the Ukraine war, the risk of recession and slowing global economic growth, high inflation and rising interest rates.
In Amazon 3Q22 earnings report, Net sales increased 15% to USD 127.1 billion compared to USD 110.8 billion in 3Q21. Operating income decreased to USD 2.5 billion in 3Q22 compared to USD 4.9 billion. Net income decreased to USD 2.9 billion in the 3rd quarter compared to USD 3.2 billion in 3rd quarter 2021.
Currently Amazon is trading below USD 100 which is the psychological level to watch. If it manages to go over USD 100 it is certainly going to be on an uptrend.
Wall Street Analysts are also bullish on Amazon with a Buy rating and a median target price of USD 142.29 per share.
Amazon is a phenomenal conglomerate. It is not only the King of ECommerce but it is into Cloud Computing, Online Advertising, Digital Streaming, AI, Healthcare and Supermarkets too.
I believe most of Amazon 's challenges are temporary. Its growth story is not over by a long shot. At the current price of USD 94.13, it is great buy with a huge discount of 45%. So it has lots of upside potential in the future. That is why I have picked Amazon as the Top stock in Group E.
Tesla is my 2nd choice for Group E, simply because of the challenges Elon Musk is facing trying to straighten up the tangled coil in Twitter and the latest lawsuit he is facing on his Tesla's CEO compensation. Elon Musk may have to sell more Tesla shares to bail out Twitter and the result of the lawsuit may have a negative impact on Tesla.
So it is Amazon for Group D as my Top Pick.
@MillionaireTiger @TigerStars @CaptainTiger @Tiger_chat
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