At this time, I’ve decided to downsize my holdings in Amazon.com, Inc. ( AMZN ). I am uncomfortable with holding the shares now after the latest earnings announcementI’m a Portfolio manager (flexible equity funds and private clients), fundamental equity research, macro and geopolitical strategy.Over 10 years across global markets, managing multi-asset strategies and equity portfolios at a European asset manager.I combine top-down macro, bottom-up stock selection and real-time positioning (Bloomberg, models, ...

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]