Amazon 's earnings report on Tuesday evening will give investors insight into two of the biggest stories on Wall Street — the resilient U.S. consumer and the artificial intelligence boom.
Wall Street is generally optimistic about Amazon, as more than 90% of analysts have a buy or strong buy rating on the stock, according to LSEG.
Several other tech companies, including Alphabet , have already reported strong advertising numbers for the first quarter.
"We increase our Amazon advertising outlook following the impressive 2H23 performance and encouraging industry checks.
On a ~55% margin, Advertising [earnings before interest and taxes] moves from $26B in FY23 to $41B in FY26," MoffettNathanson analyst Michael Morton said in an April 22 note.
Persons:
Stephen Ju, Brian Pitz, Pitz, Michael Morton, Amazon's, Morton, MoffettNathanson, Ju, — CNBC's Michael Bloom
Organizations:
Amazon, Services, AWS, UBS, prem, BMO