Resistance levels: $160, $170
Amazon.com (AMZN) is expected to report Q1 earnings after the market close on Thursday, April 22 with a conference call scheduled for 5:00 pm ET. Analysts are looking for a profit of 61c on revenue of $6.86B. The consensus range is 54c-76c for EPS, and revenue of $6.56B-$7.21B, according to First Call. In January, the company forecast Q1 revenue $6.45B-$7B and announced a $2B stock repurchase program. During the quarter, Amazon announced a Kindle application for Apple's (AAPL) iPad and Engadget reported that Kindle could be hitting Target's (TGT) shelves as early as April 25. The Canadian government also announced plans to let Amazon start a distribution center there, the Wall Street Journal reported. A lawsuit was recently filed to block the NC Department of Revenue from demanding that the retailer turn over the names and addresses of virtually every North Carolina resident who has purchased anything from Amazon since 2003, Reuters reported. As for Q1, MKM Partners believe the online retailer will report a significant upside to consensus estimates. Other analysts believe Amazon will report growth in electronics, books, CDs and DVDs. Amazon reported EPS of 41c on revenue of $4.89B in Q109.
Stock trading in 52 weeks high. If company beat earning handily stock will soar any disappointed stock will hammer in ah.Support level will be $130 which is good buy area.
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