Amazon Stock Still Has Upside Heading Into the Holiday Shopping Season – InvestorPlace

Amazon Stock Still Has Upside Heading Into the Holiday Shopping Season – InvestorPlace

Holiday shopping season is here. And with consumers still looking to online shopping as the novel coronavirus pandemic continues to surge, online retailers are scooping up sales. That said, Amazon (NASDAQ:AMZN) is leading the charge. Despite what is shaping up to be a holiday quarter that shatters records, AMZN stock remains off its September high by more than 10%. To me, that represents an opportunity to scoop up AMZN shares on the cheap.

Amazon (AMZN) building at night time with logo light up on building

Source: Mike Mareen / Shutterstock.com

Once the holiday quarter numbers are released, look out. The company’s fourth quarter encompasses the delayed Prime Day event, Black Friday, Cyber Monday and Boxing Day. When those numbers are eventually published, my guess is AMZN stock is going to go through the roof.

All Signs Point to a Blowout Q4

Collectively, Amazon’s fourth quarter is traditionally when its sales and revenue are highest. There are big shopping days in that holiday quarter: Black Friday, Cyber Monday and Boxing Day.

Yes, like many other things, 2020 will be different for Amazon. But in a good way, especially if you own AMZN stock. There are still the big three shopping days to look forward to. In addition, the pandemic has resulted in online shopping getting a huge boost in popularity in general. And in 2020, Prime Day — Amazon’s biggest shopping event of the year — was delayed. It ended up being
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