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The Zacks Analyst Blog Highlights Amazon, Occidental, Dell Technologies and Applied Materials
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For Immediate Release
Chicago, IL – October 25, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amazon (AMZN - Free Report) , Occidental (OXY - Free Report) , Dell Technologies (DELL - Free Report) and Applied Materials (AMAT - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Will Solid AWS Momentum Aid Amazon's Q3 Earnings?
Amazon is set to report third-quarter 2023 results on Oct 26.
The company is expected to have continued gaining solid momentum in the rapidly growing cloud market on the back of its cloud computing division, Amazon Web Services (“AWS”).
We note that the growing popularity and strong adoption of AWS have been aiding Amazon in generating high margins from the cloud business. The trend is expected to have continued in the yet-to-be-reported quarter.
AWS’ revenues were $22.1 billion in second-quarter 2023, accounting for 17% of net sales, rising 12% year over year.
We believe that an expanding customer base and a strong discount offering for long-term deals are likely to have driven AWS’ top line in the quarter under review.
The Zacks Consensus Estimate for third-quarter 2023 AWS net sales is pegged at $23.19 billion, indicating an improvement of 12.9% from the year-ago quarter’s reported figure.
Click here to find out how the company’s overall third-quarter performance is expected to have been.
The expanding data center network and an increasing number of AWS regions and availability zones are likely to have acted as tailwinds.
In the third quarter, the company launched an infrastructure region in Tel Aviv, Israel. AWS Israel (Tel Aviv) Region is comprised of three availability zones.
Its strength across the AWS cloud services portfolio is expected to have continued benefiting the segment’s performance in the third quarter.
Both factors are expected to have aided Amazon in sustaining momentum among existing customers and attracting new ones.
In the quarter under review, AWS was selected by PT Telekomunikasi Selular (Telkomsel) and Abdul Latif Jameel as a preferred cloud provider. BMW Group and Dr. Reddy’s Laboratories also picked AWS as the preferred cloud provider.
FanDuel also picked AWS as its strategic cloud provider.
Occidental favored AWS as its preferred cloud provider to enhance operational efficiencies and eliminate upfront capital expenditures.
Occidental is transferring its core production applications and on-premises information technology infrastructure to AWS to accelerate its digital transformation and the development of systems for carbon removal plants.
Meanwhile, Sumitomo selected AWS to drive its digital transformation by migrating its SAP environments to AWS.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Dell Technologies and Applied Materials. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Applied Materials carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 68.8% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Shares of Applied Materials have gained 58.1% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Amazon, Occidental, Dell Technologies and Applied Materials
For Immediate Release
Chicago, IL – October 25, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amazon (AMZN - Free Report) , Occidental (OXY - Free Report) , Dell Technologies (DELL - Free Report) and Applied Materials (AMAT - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Will Solid AWS Momentum Aid Amazon's Q3 Earnings?
Amazon is set to report third-quarter 2023 results on Oct 26.
The company is expected to have continued gaining solid momentum in the rapidly growing cloud market on the back of its cloud computing division, Amazon Web Services (“AWS”).
We note that the growing popularity and strong adoption of AWS have been aiding Amazon in generating high margins from the cloud business. The trend is expected to have continued in the yet-to-be-reported quarter.
AWS’ revenues were $22.1 billion in second-quarter 2023, accounting for 17% of net sales, rising 12% year over year.
We believe that an expanding customer base and a strong discount offering for long-term deals are likely to have driven AWS’ top line in the quarter under review.
The Zacks Consensus Estimate for third-quarter 2023 AWS net sales is pegged at $23.19 billion, indicating an improvement of 12.9% from the year-ago quarter’s reported figure.
Click here to find out how the company’s overall third-quarter performance is expected to have been.
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Factors to Consider
The expanding data center network and an increasing number of AWS regions and availability zones are likely to have acted as tailwinds.
In the third quarter, the company launched an infrastructure region in Tel Aviv, Israel. AWS Israel (Tel Aviv) Region is comprised of three availability zones.
Its strength across the AWS cloud services portfolio is expected to have continued benefiting the segment’s performance in the third quarter.
Both factors are expected to have aided Amazon in sustaining momentum among existing customers and attracting new ones.
In the quarter under review, AWS was selected by PT Telekomunikasi Selular (Telkomsel) and Abdul Latif Jameel as a preferred cloud provider. BMW Group and Dr. Reddy’s Laboratories also picked AWS as the preferred cloud provider.
FanDuel also picked AWS as its strategic cloud provider.
Occidental favored AWS as its preferred cloud provider to enhance operational efficiencies and eliminate upfront capital expenditures.
Occidental is transferring its core production applications and on-premises information technology infrastructure to AWS to accelerate its digital transformation and the development of systems for carbon removal plants.
Meanwhile, Sumitomo selected AWS to drive its digital transformation by migrating its SAP environments to AWS.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Dell Technologies and Applied Materials. While Dell Technologies sports a Zacks Rank #1 (Strong Buy), Applied Materials carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dell Technologies shares have gained 68.8% in the year-to-date period. DELL’s long-term earnings growth rate is currently projected at 12%.
Shares of Applied Materials have gained 58.1% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.