JPMorgan analyst recommends Amazon, predicting a 7.5% rise in holiday sales despite a smaller gain than last year.

JPMorgan Chase analyst Doug Anmuth recommends Amazon as the top stock for the holiday season, predicting a 7.5% increase in online sales over Thanksgiving weekend, despite a slight dip from last year's 9.5% growth. Amazon, expecting significant gains, has planned to hire 250,000 seasonal workers and launched early holiday promotions. Anmuth forecasts e-commerce sales could nearly double as a share of total US retail sales in the long term, reaching 40%. Amazon's stock has risen 37% this year, trading at $205.74.

November 28, 2024
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