The overall market has recently recovered from a double-digit decline, now just 5.64% off its 52-week high.
The recent market turbulence has left many investors and spectators on the sidelines, questioning whether now is the time to invest in some of the most prominent names in the stock market.) has shown signs of resilience with a robust four-day rally, reducing losses to just 5.64% from its peak.
The company recently reported strong earnings on July 31, 2024, with EPS of $5.16, surpassing the consensus estimate of $4.70 by $0.46. The company recently reported its second-quarter earnings, revealing weaker-than-expected revenue and issuing a disappointing forecast for the current period. Following the announcement, the stock fell as much as 6% in extended trading. Specifically, Amazon reported earnings of $1.26 per share, beating the expected $1.03, but its revenue of $147.98 billion fell short of the $148.56 billion forecast.), ranking second to last in terms of P/E, has a current P/E of 55 and a forward P/E of 62.
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