Amazon (AMZN) Stock Surges 20% in April as Cramer Favors It Over Microsoft (MSFT)
Amazon's stock surged 20% in April, reaching $250.56, as analysts maintain a positive outlook ahead of its Q1 earnings report. The company's plans to purchase Globalstar for $12 billion and partnership with Apple on satellite services were also announced.
Amazon's stock price has risen to $250.56, just 1.4% below its record high. The stock has climbed 20% in April, with nine out of the past 10 trading days ending in positive territory. Analysts from Truist Securities and TD Cowen have maintained their Buy recommendations, with target prices of $285 and $300, respectively. Amazon is set to report Q1 earnings on April 29, with projected earnings per share of $1.63 and total revenue of $177 billion. The company has also announced plans to purchase Globalstar for $12 billion and partnered with Apple on satellite services. Amazon's AWS revenue is expected to grow 25% in Q1, driven by expanding AI collaborations.
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