Amazon (AMZN) is set to report Q3 results after the bell today with a conference call slated for 5:30pm ET. 

Cap IQ Consensus estimates Q3 EPS of -$0.01 (vs. $0.52 in 3Q16), w/revs of $42.25 mln ( +1.3% y/y). 

Online retail giant Amazon is set to report their Q3 earnings results tonight after the bell with a conference call slated to follow at 5:30pm ET. Investors will be looking to see if momentum can continue as shares are currently up approx. 30% YTD vs. 24.3% for the Nasdaq. 

On the Q3 earnings call investors will primarily be focusing on AWS growth, Prime growth, and update on the contribution from the Whole Foods (WFM) acquisition. Last quarter AWS sales grew 42% y/y to $4.1 bln (TTM AWS net sales of $14.5 bln), with operating income up 28% y/y to $916 mln. 

 

Options

Based on AMZN options, the current implied volatility stands at ~ 26%, which is 96% higher than historical volatility (over the past 30 days).

 

Analysts

  • Target raised to $1350 from $1100 at Credit Suisse (October 11). 
  • Resumed with an Outperform at Wells Fargo; tgt $1400 (September 27). 
  • Initiated with a Buy at Loop Capital; tgt $1200 (September 13).

TECHS: 

Technically, AMZN has been locked into a choppy range the last 5-months, struggling to maintain any sort of strength above the $1000-mark.

If sellers take control, they will need to break price below 5-month support in the 927/931 area to incur any significant damage.

Next key supports would be the psychological $900-mark,