Analyst Expects Strong Amazon Q1 Results From Virus' 'Holiday-Like Demand'

Cowen expects a strong Amazon Q1 earnings report April 30, with “Holiday-like demand” during COVID-19, John Blackledge wrote investors Friday. Shares are up 30% this year. Amazon’s plan to hire 75,000 fulfillment workers is a sign demand will likely remain elevated through first half '20 (see 2004130034); that's atop the 100,000 it signed on last month (see 2003160051). The analyst trimmed Amazon’s advertising forecast but considers its ad business “generally more insulated” than other digital platforms because it’s related to product search.