Amazon rises as Wedbush adds to Best Ideas List on 'stabilizing' growth
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Amazon (NASDAQ:AMZN) shares rose slightly in extended-hours trading after investment firm Wedbush Securities added the tech giant to its Best Ideas List on "stabilizing" growth in e-commerce, advertising and its cloud computing unit, Amazon Web Services.
"With comp issues fading and capacity utilization rising, Amazonâs core business is now well positioned with an industry-leading fulfillment infrastructure that is delivering 4x as many same-day or next-orders in the U.S. versus 2019 against an improving backdrop for eCommerce as the secular shift online resumes," the firm wrote in an investor note.

In addition, Wedbush said that Amazon (AMZN) is "similarly well positioned" with advertising and Amazon Web Services, as the cloud computing giant looks poised to reaccelerate growth in the back-half of 2023 and into 2024.
Amazon (AMZN) shares rose more than 1% on Monday to close at $134.68.


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