Heard on the Street: Wall Street loves Amazon like no other company. But with challenges piling up, the internet juggernaut might have trouble repaying that affection.
By Justin Lahart Aug. 30, 2019 5:33 am ET Wall Street loves Amazon.com like no other company. But with challenges piling up, the internet juggernaut might have trouble repaying all that affection.
But the optimism suggests that a lot of good news is already priced into the company’s stock and that it might not take much in the way of bad news to disappoint investors. At a time when the company is facing slower sales growth, heightened competition, worries over the safety and authenticity of products sold through its website and the prospect of increased regulatory scrutiny, such a moment could be coming.
There is also more competition for online sales than in the past, with those of many retailers growing faster than Amazon’s. Through the first half of its current fiscal year, Walmart’s U.S. e-commerce sales were up 37% from a year earlier, while Best Buy ’s were up 16% and Home Depot ’s were up 21.4%. None of those retailers’ online sales approach Amazon’s, but they have become substantial enough that their rapid growth shouldn’t be considered an afterthought.
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