$Amazon.com(AMZN)$ Democrat politicians are talking about restricting new data center development. That bodes well for AMZN's pricing power and profits as the largest cloud provider.
$Apple(AAPL)$ 375.52 is at the 70 RSI. Apple has 26 more points to go to be in overbought territory. The 80 RSI is more interesting, 420.36. These are not predictions, just stating the facts where overbought conditions are. Congratulations to all Apple shareholders.
$Amazon.com(AMZN)$ Amazon's relative strength across its businesses is unmatched. There are names trading at 100-400 PE up here, and Amazon isn't even at 20? That's hard to take seriously. I'm loading up ahead of Black Friday.
$Amazon.com(AMZN)$ The market has already pulled back a bit, so some of the profit-taking pressure that might have come is out of the way. Now there is room to drift higher. 295 is the top end of the channel, and that is the level I am watching.
$Amazon.com(AMZN)$ I think AMZN is worth a lot more than where it sits now, at least 375 to 450. A lot of people are optimistic and forget how quickly AMZN can move up. I remember in June of 2022 when it split at 125 a share, and now it has doubled. I would say by the end of 2028 it will double again. Yes, this year so far there hasn't been much gain. Patience is the key, and remember AMZN is a giant octopus with many tentacles, lots of cash and revenue. But make no mistake, this is not a short-term stock, it is long term. You don't want 10% or 20%, you want 10,000%. Long since 2003, up at the moment 27,922.20.
$Amazon.com(AMZN)$ AWS grew 39%, which is great. The $42.4B trailing free-cash-flow outflow is also great, if your hobby is stress-testing balance sheets. I like the demand. I just want to know when the machines start paying rent.
$Amazon.com(AMZN)$ Consolidated revenue came in slightly light, though the comps were tougher because Prime Day timing shifted this year. The event fell in Q2 for most large countries this year versus Q3 last year, which was a -400bps drag on revenue. NA segment up +6% y/y, compared to +11% y/y last year. International up +8% y/y, compared to +10% y/y last year. AWS up +39% y/y, compared to +20% y/y last year. One thing worth noting: Amazon FY26 forward P/E sits at 24.6x, versus $Wal-Mart(WMT)$ at 42.6x and $Costco(COST)$ at 44.1x. Amazon gross margin is 51.47%, compared to Walmart at 24.69% and Costco at 11.13%.
With all these Mag 7 reactions, everyone seems to be turning bearish on $Apple(AAPL)$ now, which probably means it's headed to an all-time high next week.