Top Wall Street analysts are confident in the long-term potential of these stocks
Summary
Companies are feeling the ill effects of dampening consumer demand in a range of sectors, but select names are confident they can deliver solid growth even as the economy becomes more challenging. Baird analyst William Power lowered his revenue estimates and also cut his price target for AAPL stock to $186 from $204 to reflect the companys flattish top line guidance for the December quarter. (See Apple Technical Analysis on TipRanks) E-commerce and cloud computing behemoth Amazon (AMZN) impressed investors with its solid third-quarter earnings, which surpassed Wall Streets expectations. The analyst added that the companys restructuring initiatives, regionalization of its domestic fulfillment center network, and success at overcoming the cost headwinds seen in the past 24 months have helped deliver an inflection point in North American e-commerce margins. Deutsche Bank analyst Brad Zelnick noted that Microsofts revenue surpassed guidance, driven by strength across the board, with significant upside in the high-margin Windows offering.