No rest for the weary in tech land. Traders have now turned their attention squarely to Amazon , which reports Thursday after the bell.
Should you buy ahead of the numbers? What’s the trade?
Top tech analyst Gene Munster of Piper Jaffray likes the stock long-term but tells us, “I would not be long going into the print. The comp last quarter was 38% but it jumps to 52% in the June quarter and the Street models just aren’t figuring that in. Look out for that top line guide come Thursday night.”
Karen Finerman shares the skepticism. In fact, she’s short through put spreads. “I just do not get it,” she says. “Sure it’s a fantastic company but the valuation is out of this world. The best retailers in the world trade at a 12 multiple while Amazon's valuation is halfway to the moon.”
Tim Seymour believes the stock is range bound between $180 and $200. “I’d own it lower, as a trade, but not ahead of earnings when the stock is at $194.
Anthony Scaramucci has a different take. He thinks Amazon has upside in the long-term but for a very different reason. He believes that after the death of Steve Jobs the public will seek out the next tech visionary, and Scaramucci thinks that will be CEO Jeff Bezos. As a result, he sees a very strong catalyst.