Call it a changing of the guard within Big Tech.
Amazon.com Inc. AMZN and Apple Inc. AAPL each reported earnings Thursday, and those results prompted Rosenblatt Securities analyst Barton Crockett to change his tune on both names. He upgraded Amazon’s stock to buy from neutral after earnings, while making the reverse move on shares of Apple.Amazon.com Inc. AMZN and Apple Inc. AAPL each reported earnings Thursday, and those results prompted Rosenblatt Securities analyst Barton Crockett to change his tune on both names.
Amazon shares were up 10.7% in morning trading Friday and on track for their largest single-day percentage gain since Nov. 10, 2022, when they rose 12.2%, according to Dow Jones Market Data. “Faster delivery speed and better inventory placement means fewer miles traveled, fewer touches and less cost,” he wrote, as he boosted his price target to $184 from $111.
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