Amazon Stock: A Top Bet for 2020?
Following an underwhelming 2019 in which Amazon (NASDAQ: AMZN) stock has underperformed the S&P 500 index by nearly 9 percentage points, one analyst is calling the e-commerce and cloud-computing giant one of his firm's "Best Ideas for 2020." Shares could appreciate about 34% over the next year, he believes.
This bullish outlook contrasts from the bearish response the Street had to Amazon's most recent earnings report. While the company's revenue beat expectations in the third quarter, its earnings per share missed analysts' consensus forecast as aggressive investments weighed on profitability. But could Amazon's performance in 2020 surprise to the upside?
Image source: Amazon.com.
Source Fool.com
