Amazon shares may be looking too good not to buy at these prices.
 | TUE, SEP 22, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 111.81 | +1.73 | +1.57% | | MSFT | 207.42 | +4.88 | +2.41% | | INTC | 49.95 | +0.23 | +0.46% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 111.81 | +1.73 | +1.57% | | GE | 6.25 | -0.10 | -1.57% | | BAC | 23.94 | -0.53 | -2.17% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 111.81 | +1.73 | +1.57% | | TSLA | 424.23 | -25.16 | -5.60% | | AMD | 77.70 | -0.24 | -0.31% | |
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Amazon shares may be looking too good not to buy at these prices, investors said today. Shares of the e-commerce giant jumped more than 5% after Mark Shmulik, an analyst at Bernstein, upgraded them to buy from hold. Shmulik was the last analyst from a major research firm without a buy rating, writes CNBC's Michael Bloom. Amazon had been under pressure this month before Tuesday's sharp gains. In fact, the shares are still down more than 9% for September. But that pullback gives investors who missed out on the stock's surge from the March lows "a better entry point to get involved," Shmulik said in a note.  Shares of other major tech companies are also down significantly month to date, but if investors start finding their current valuations more attractive, the market's September sell-off may be kept in check. Amazon led Big Tech higher on Tuesday and helped the S&P 500 snap a four-day losing streak, its longest since February. To be sure, broader market sentiment was restrained for most of the session after U.K. Prime Minister Boris Johnson announced further restrictions to curb the spread of the coronavirus. He noted the country was at a "perilous turning point." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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