Maxim Group's Tom Forte: Amazon is not feeling pressure from tariffs so far

Tariffs and Competitive Advantage - Amazon hasn't felt significant tariff pressure due to heavy inventory and its marketplace structure [2] - Amazon's marketplace has a structural advantage because 60% of items are sold by third-party sellers who price competitively [2][9] - Amazon is relatively well insulated from the impact of tariffs due to its marketplace model [9][10] Prime Day and Holiday Season - October Prime Day is aimed at capturing wallet share for the holiday season, unlike the June/July event which tests logistics [4][10] - The analyst believes that Amazon is trying to capture as much wallet share heading into the holiday season [4] - The analyst dismisses misleading headlines about Prime Day orders being down year-over-year, maintaining a positive outlook on Amazon [11] - Prime Day remains a significant revenue catalyst for Amazon [10] AI and Technology - Amazon is heavily invested in Anthropic in the AI space [5] - Amazon is well-positioned to capitalize on AI, though it's less associated with OpenAI compared to some peers [6] - Amazon is expected to have the technology to maximize e-commerce revenue, including potential AI agents or instant shopping features [15] Stock Performance and AWS - Amazon's year-to-date stock performance is flat, underperforming some AI-related stocks [5] - Strength in Amazon Web Services (AWS) revenue in the September quarter could drive a stock rally in the back half of the year [16][17] - The analyst has a buy rating on Amazon with a $272 price target [17] Retail Competition - Amazon is trying to compete more on value by offering a $5 grocery option [13] - Amazon benefits from a core consumer with a higher income compared to Dollar General [13]