Expert opinion: Amazon stock will likely do well moving forward

Amazon.com Inc is set to report its Q1 financial results today, after the bell.
David Wagner has an interesting reason why AMZN will do well from here.
Delano Saporu also picked Amazon stock in CNBC’s 2022 Stock Draft today.

Amazon.com Inc (NASDAQ: AMZN) is reporting its financial results for the first quarter today, after the bell. Ahead of earnings, the stock is up roughly 5.0%.

Why David Wagner likes Amazon stock

While much will depend on the numbers, Aptus Capital Advisors’ David Wagner says there’s reason to believe the stock will do well in general. On CNBC’s “The Exchange”, he noted:

The Street consensus on AMZN at present is “buy” with an average price target of $4,059 that represents a 40% upside from here.

Delano Saporu also remains positive on Amazon

Amazon is likely to report a hit to its core retail segment in Q1, considering the macroeconomic headwinds. Investors, therefore, would be interested in finding out to what extent its other, higher margin businesses like “Cloud” and “Advertising” helped offset that weakness.

Also on Thursday, New Street Advisors’ Delano Saporu picked Amazon in CNBC’s 2022 Stock Draft and said: