After a spectacular first half of 2020, shares in e-commerce giant Amazon (NASDAQ:AMZN) plateaued at an all-time high of $3,531.45 last September. For the most part, Amazon stock has bounced between $3,000 and $3,400 since then. At the moment, it is in the middle of a two-week dip. With fourth-quarter earnings just three weeks away, AMZN in its current $3,100 range, offers an attractive buying opportunity.
Amazon gets a solid ‘A;’ rating in Portfolio Grader. It’s also featured in my list of the “7 Safest Stocks to Start Off 2021 on the Right Foot.”
Amazon stock deserves to be on that list — it doesn’t get much safer than AMZN — but it has also frequently been a high-growth stock. 2020 was a big year for the company (especially the first half), and the stars are in alignment for 2021 to be epic as well.
Q4 Earnings Are Going to Kick Off the Year With a Bang
Here are some of the big highlights that point toward a killer fourth quarter for Amazon. The holiday shopping season is the big catalyst, with predictions that Amazon may have captured as much as 42 cents of every dollar spent shopping for gifts.
Prime Day was delayed until October in 2020, so it is also included in Q4 numbers. Analysts peg Amazon sales for that two-day event to be a Source…