Amazon Remains JPMorgan’s Top Overall Idea in Internet

JPMorgan analyst Doug Anmuth says Amazon.com Inc. remains his top overall idea in the internet space.

The re-rating came after the Department of Commerce released Q4 U.S. e-commerce sales of $258 billion, shy of the firm’s $270 billion estimates.

The e-commerce sales were due to a softer than expected holiday season, the continued resurgence of brick and mortar retail sales, and ongoing supply chain headwinds.

U.S. e-commerce penetration remained flat year-over-year at 19.0 percent of adjusted retail sales. Still, the analyst estimates 2022 penetration should increase to 20.3 percent comps ease in the middle and back half of the year, and Amazon and other retailers gain further share in “key under-penetrated” categories such as grocery.

He believes Amazon will become a “cleaner, more compelling story” through 2022.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga

Follow

Source

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes