Nearly every analyst covering Amazon says buy the dip, except one

Key Points
  • Barclays told clients it's "still early" to buy the dip on Amazon, as the e-commerce giant's period of heavy investment could hurt financials further before things get better.
  • Shares of Jeff Bezos-led Amazon plunged as much as 9% about reporting third-quarters earning that fell short of Wall Street's expectations.
  • Almost every other Wall Street analyst recommended buying the dip.
Amazon CEO Jeff Bezos tours the facility at the grand opening of the Amazon Spheres, in Seattle, Washington on January 29, 2018.
Jason Redmond | Getty

Barclays told clients it's "still early" to buy the dip on Amazon, as the e-commerce giant's period of heavy investment could hurt financials and the stock further before things get better.

"Historically it's a good idea to buy AMZN shares in the 7th-8th inning of its investment cycles, closer to where we are coming out, but unfortunately it feels like we are only in the 3rd-4th inning," said Barclays internet analyst Ross Sandler in a note to clients on Friday.