Amazon announces its earnings on Thursday and around a quarter of the S&P500 companies have now reported and over 50% have outperformed their estimates. Will Amazon outperform this year on its Q3 earnings?

Investors will be looking at this data very closely to see if big tech companies, like Amazon, can continue to generate profit even as inflation eats away at their margins. The verdict has been positive so far and the seasonals for Amazon stocks are also fairly strong for November.

Over the last 15 years, if we remove the global financial crash (GFC) year of 2008 from the data, we see that Amazon has made gains 11 times. Removing the GFC data we see that Amazon stock has made an average return of 4.17% and an annualised return of 67.39.

So, will Amazon’s earnings give a reason for a lift in Amazon’s share price this November?

Major Trade Risks: The main risk here is if inflation is seen to be cutting too heavily into Amazon’s earnings.

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