CNBC Investing Club

Good news for Amazon, Alphabet: Despite reopening, analyst sees e-commerce growing fast

An Amazon truck is seen entering the LDJ5 Amazon Sort Center on April 25, 2022 in New York City.
Michael M. Santiago | Getty Images

A positive report on the future of e-commerce bodes well for Club holdings Amazon and Alphabet, both of which report quarterly earnings this week.

Most notable in the analyst note from Cowen was the estimate that online sales are on track to grow 11% annually over the next five years to a total of $1.6 trillion. While the demand sparked by the Covid-19 pandemic has lessened as brick-and-mortar stores reopened, this "give back" period appears to be behind us. Cowen bases this upbeat view on a proprietary model.