Y'all ready for this? Put option time!
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Wells Fargo lowered their rating on Amazon stock to equal weight from overweight in a note to clients early Monday. He also lowered his price target for Amazon stock to 183 from 225.
"In our view, AWS strength alone is not enough." The concern is that Walmart's competing service for sellers could pressure Amazon's merchant fees. Further, Amazon's fast-growing advertising business has helped boost retail margins. But Wells Fargo expects advertising to expand at a more modest pace.
"While the market is more prepared for pressure on (fourth quarter operating income), we caution that margin expansion could be capped in (first half) 2025 as well"
What do you mean? Probably there will be some attrition and that is exactly what they want. Gradually people will quit due to RTO. Maybe 7% gradually though.