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Canaccord’s 2Q Earnings Preview: Amazon.com, Inc. (AMZN), Facebook Inc (FB), Twitter Inc (TWTR), Alphabet Inc (GOOGL)

Next week is going to be a big week for internet stocks as Amazon.com, Inc. (NASDAQ:AMZN), Facebook Inc (NASDAQ:FB), Twitter Inc (NYSE:TWTR) and Alphabet Inc (NASDAQ:GOOGL) are all poised to release earnings reports. Canaccord analyst Michael Graham weighed in, providing his expectations on the four internet giants.

Michael Graham is ranked #105 out of 4075 analysts on TipRanks. He has a 58% success rate recommending stocks with an average return of 11.9% per recommendation.

Amazon.com, Inc.

Graham discusses his views on Amazon’s second-quarter earnings release, set for Thursday, July 28, 2016. Overall, the analyst expresses strong confidence in Amazon’s business model and expects continued strength.

Graham wrote, “Q1 was perhaps Amazon’s best quarter in recent memory, and it will be a tough act to follow. All segments performed well, however, and we are expecting more of the same in Q2. We are generally comfortable with our 24% revenue growth outlook for Q2, which is down from 28% in Q1, and believe there is a decent chance the company is set up for another strong quarter relative to consensus. We see the biggest risk as being international eCommerce CSOI margin, where we are looking for a sequential uptick in Q2.”

Graham rates AMZN a Buy, with a price target of $765, which represents a slight upside potential from current levels.

Out of the 35 analysts polled by TipRanks (in the past 3 months), 32 rate Amazon stock a Buy, while 3 rate the stock a Hold. With a return potential of 12%, the stock’s consensus target price stands at $831.76.

Facebook Inc

Graham also weighed in on Facebook ahead of its second-quarter earnings release...


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