Core Viewpoint - Amazon.com, Inc. (AMZN) is significantly undervalued, with positive earnings revisions outpacing a modest 10% share price growth over the last twelve months, indicating potential for future appreciation [1]. Financial Performance - The share price growth of AMZN has been modest at 10% over the past year, which is underperformance compared to the S&P 500 Index [1]. Investment Perspective - The analysis suggests that AMZN presents a promising investment opportunity due to its undervaluation and positive earnings outlook, which may attract investors looking for growth potential [1].

Market Overview - US stock futures experienced a sharp pullback, with S&P 500 futures down 1.3% and Nasdaq 100 futures down 1.6% as doubts about the AI-driven rally emerged [1] - Wall Street is seeing deepening losses, with skepticism about stock valuations despite strong earnings reports [2] Earnings Reports - Palantir's shares dropped over 5% despite beating third-quarter earnings expectations, as analysts suggested the company's valuation is overinflated [2][10] - The upcoming earnings season is expected to feature over 100 reports, with notable companies like AMD, Uber, Spotify, and SuperMicro reporting on Tuesday [3] Valuation Concerns - Wall Street CEOs have warned of a potential equity market drop of more than 10% in the next 12 to 24 months, indicating that such a correction could be beneficial [5] - Corporate earnings are strong, but concerns about valuations persist, with investment manager Capital Group's CEO stating that most view stocks as between fair and fully valued [6][7] Specific Company Movements - Denny's stock surged nearly 50% in premarket trading after announcing an agreement to be taken private by a group of investors [4]