Amazon.com. Inc. shares
AMZN,
advanced 3.9% in Monday’s session to secure their best two-day stretch in nearly a year. The stock gained 11.0% over the past two sessions when factoring in a sizable Friday rally that followed the company’s upbeat earnings report and cloud-computing commentary. The two-day stock-price increase made for the largest such rise since Nov. 11, 2022, when the shares gained 17.0%. “With [the] AWS reacceleration firmly on the horizon, North America operating income delivering ahead of expectations, the International business nearly back to break-even, and revenues continuing to grow at a steady double-digit clip, Amazon remains one of the best earnings growth stories in the market heading into 2024,” Deutsche Bank analyst Lee Horowitz wrote in a Friday note to clients.
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