Amazon (AMZN) bulls may finally have a reason to smile — just like the company’s logo suggests — after a relatively ugly winter, according to a recent Bank of America (BAC) Global Research report.
“We continue to rate Amazon as our top FANG and large-cap Internet stock for 2022,” Bank of America analyst Justin Post wrote in his report. “Amazon’s profit outlook is improving as the COVID impact on labor and supply chain subsides.”
Amazon pushed markets up on Friday, and was the best performing FANG (an acronym of four of the biggest tech stocks, Meta (FB) (formerly Facebook), Amazon (AMZN), Netflix (NFLX), and Alphabet (GOOG)) stock of the week.
The e-commerce giant closed more than 13% higher on Friday after a 2021 fourth quarter earnings report showing revenue gains and an $11.8 billion profit from investment in Rivian (RIVN), an electric vehicle company which recently…
