JPMorgan lowers Amazon price target
JPMorgan Chase cut Amazon’s price target from $4,600 to $4,100 on Friday.
The move comes after the tech giant missed estimates on the top line, reporting revenue of $113.1 billion in the second quarter of 2021. Amazon’s guidance was also weaker than expected as the company now expects sales between $106 billion and $112 billion.
Amazon shares plunged over 6% to $3,364.96 in premarket trading.
Get involved!
Comments