Amazon: A Momentum Stock Buy

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Amazon: A Momentum Stock Buy

By Michael Vodicka on July 27, 2009 | More Posts By Michael Vodicka | Author's Website

Amazon.com, Inc. (AMZN) broke through a short-term level of resistance just above $87 after reporting somewhat mixed second-quarter results on July 23.

Second-Quarter Results

Sales were up 14% from last year to $4.65 billion. Earnings came in one penny ahead of the consensus at 32 cents per share. It was the company’s fourth surprise in the last four quarters.

Amazon said its earnings results were effected by a litigation and currency charge.

Guidance and Estimates

Amazon offered guidance during the call, saying it expects third-quarter income of $120 to $210 million on revenue between $4.75 and $5.25 billion.

Analysts are bullish on Amazon, with the next-year estimate pegged at $2.08 per share, a 28% earnings growth projection.

The Chart

Shares of AMZN have been rallying since late last year, bottoming out just above $34. Take a look below.

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