Analyst says Amazon likely saw 'robust' Black Friday/Cyber Monday trading

Investing.com -- Amazon likely delivered “robust” Black Friday and Cyber Monday performance in North America, setting the company up for a strong fourth quarter, according to HSBC.

Analyst Paul Rossington said he expects the peak shopping period to “support Q4 company guidance,” citing record U.S. e-commerce spending and Amazon’s broad operational advantages.

HSBC highlighted Adobe data showing U.S. online sales during Cyber Week rose 7.7% to a record $44.2 billion, with double-digit discounts boosting demand across major categories.

Rossington said HSBC anticipates Amazon “will have taken share during the peak trading season” thanks to “a strong campaign, extension of same-day / next-day delivery options, expansion into grocery and essential items, and logistics cost savings.”

He added that high-frequency U.S. consumer data and positive updates from peers such as Walmart and Dollar General offer further support.

Beyond retail, HSBC pointed to a renewed acceleration at Amazon Web Services. AWS growth reaccelerated to 20.2% year-on-year in Q3, and management indicated the pace was sustainable “for a while.”

The cloud unit’s order backlog climbed to about $200 billion, up 22% year-on-year, even before several large October deals were included.

HSBC said Amazon’s Q4 guidance “leaves upside risk,” noting the company has beaten the top end of its guidance range for 11 consecutive quarters.

The bank reiterated a Buy rating and $300 price target on Amazon shares, arguing the recent pullback now implies “32% upside.”

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