Next week will see four of the "Magnificent Seven" stocks report quarterly earnings -- Apple 
AAPL , Amazon 
AMZN , Microsoft 
MSFT and Meta Platforms 
META . Let's check out AMZN ahead of its results.
Amazon's Fundamental Analysis
FactSet recently reported analysts' consensus view calls for S&P 500 companies to see 9.3% earnings growth for 2025 as a whole, of 9.3%, up from 9% in 2024.
But very interestingly, FactSet also said that earnings growth across the "Magnificent Seven" is projected at 14.1% year over year for just Q2 alone.
By contrast, analysts project just 3.4% y/y earnings gains for the S&P 500's other "Less Than Magnificent 493." That illustrates the Mag-7's impact on the broader market.
As for Amazon, analysts estimate that the e-commerce giant will see $1.32 in Q2 GAAP earnings per share on roughly $162 billion of revenue.
This would represent 4.8% y/y growth from Q2 2024's $1.26 in GAAP EPS, as well as a 9.5% y/y gain from the approximately $148 billion in revenues that AMZN saw in the same period last year.
This has become the norm for Amazon, as revenue growth has landed between 9% and 11% for each of the past four quarters (and is projected to print within that range for the next four quarters as well).
But significantly, of the 34 sell-side analysts that I can find that track AMZN, 27 have reduced their Q2 earnings estimates for the firm since the current quarter began. (The other seven swam upstream and actually boosted their forecasts.)
Amazon's Technical Analysis
Next, let's look at AMZN's chart going back some six months and running through Tuesday afternoon:
This is an interesting chart, with both positive and negative technical signals.
On the positive side, the stock saw a "double-bottom" pattern of bullish reversal that spanned the month of April, with a $193 pivot (marked "Double Bottom" at the above chart's left).
That produced an upside breakout that appeared to accelerate, with a "golden cross" occurring on July 7 (marked at the chart's right).
A golden cross is generally seen as a bullish technical pattern that occurs when a stock's 50-day Simple Moving Average (or "SMA," denoted with a blue line in the chart) crosses above a rising 200-day SMA (the red line).
There's a catch, though.
While breaking out higher in the chart above, AMZN appeared to develop a "rising-wedge" pattern of bearish reversal, marked with purple diagonal lines in the chart above.
Readers will note that this pattern actually began at the nadir of the double bottom's second bottom in late April. The rising wedge's upper trendline then kicked in on May 13, but the pattern's two lines appear to be closing.
When a wedge closes after two to three touches on each trendline (which we have here), the resultant move can be explosive.
However, it's not necessarily clear which way a stock will move from there -- up or down. A true closing pennant can explode violently in either direction, but as noted above, what we're seeing with Amazon is a pattern of bearish reversal.
This does give me pause about AMZN and makes me more cautious than I might otherwise be about getting involved with the stock ahead of earnings. (I don't currently own any AMZN shares.)
Meanwhile, Amazon's Relative Strength Index (the gray line at the chart's top) looks strong, but nowhere near being technically overbought.
That said, the stock's daily Moving Average Convergence Divergence indicator (or "MACD," marked with black and gold lines and blue bars at the chart's bottom) isn't telling us much at all.
The histogram of Amazon's 9-day Exponential Moving Average (or "EMA," marked with blue bars) is flat-lining right around the zero bound, while the 12-day EMA (black line) is running in line with the 26-day EMA (gold line).
While both lines are running above zero, it matters greatly which one ends up on top. For the short to medium term, the bulls will be rooting for the black line, while the bears will be hoping that the gold line can wind up on top.
(Moomoo Technologies Inc. Markets Commentator Stephen “Sarge” Guilfoyle had no position in AMZN at the time of writing this column.)
This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.
TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
AAPL , Amazon AMZN , Microsoft MSFT and Meta Platforms META . Let's check out AMZN ahead of its results.Amazon's Fundamental Analysis
FactSet recently reported analysts' consensus view calls for S&P 500 companies to see 9.3% earnings growth for 2025 as a whole, of 9.3%, up from 9% in 2024.
But very interestingly, FactSet also said that earnings growth across the "Magnificent Seven" is projected at 14.1% year over year for just Q2 alone.
By contrast, analysts project just 3.4% y/y earnings gains for the S&P 500's other "Less Than Magnificent 493." That illustrates the Mag-7's impact on the broader market.
As for Amazon, analysts estimate that the e-commerce giant will see $1.32 in Q2 GAAP earnings per share on roughly $162 billion of revenue.
This would represent 4.8% y/y growth from Q2 2024's $1.26 in GAAP EPS, as well as a 9.5% y/y gain from the approximately $148 billion in revenues that AMZN saw in the same period last year.
This has become the norm for Amazon, as revenue growth has landed between 9% and 11% for each of the past four quarters (and is projected to print within that range for the next four quarters as well).
But significantly, of the 34 sell-side analysts that I can find that track AMZN, 27 have reduced their Q2 earnings estimates for the firm since the current quarter began. (The other seven swam upstream and actually boosted their forecasts.)
Amazon's Technical Analysis
Next, let's look at AMZN's chart going back some six months and running through Tuesday afternoon:
This is an interesting chart, with both positive and negative technical signals.
On the positive side, the stock saw a "double-bottom" pattern of bullish reversal that spanned the month of April, with a $193 pivot (marked "Double Bottom" at the above chart's left).
That produced an upside breakout that appeared to accelerate, with a "golden cross" occurring on July 7 (marked at the chart's right).
A golden cross is generally seen as a bullish technical pattern that occurs when a stock's 50-day Simple Moving Average (or "SMA," denoted with a blue line in the chart) crosses above a rising 200-day SMA (the red line).
There's a catch, though.
While breaking out higher in the chart above, AMZN appeared to develop a "rising-wedge" pattern of bearish reversal, marked with purple diagonal lines in the chart above.
Readers will note that this pattern actually began at the nadir of the double bottom's second bottom in late April. The rising wedge's upper trendline then kicked in on May 13, but the pattern's two lines appear to be closing.
When a wedge closes after two to three touches on each trendline (which we have here), the resultant move can be explosive.
However, it's not necessarily clear which way a stock will move from there -- up or down. A true closing pennant can explode violently in either direction, but as noted above, what we're seeing with Amazon is a pattern of bearish reversal.
This does give me pause about AMZN and makes me more cautious than I might otherwise be about getting involved with the stock ahead of earnings. (I don't currently own any AMZN shares.)
Meanwhile, Amazon's Relative Strength Index (the gray line at the chart's top) looks strong, but nowhere near being technically overbought.
That said, the stock's daily Moving Average Convergence Divergence indicator (or "MACD," marked with black and gold lines and blue bars at the chart's bottom) isn't telling us much at all.
The histogram of Amazon's 9-day Exponential Moving Average (or "EMA," marked with blue bars) is flat-lining right around the zero bound, while the 12-day EMA (black line) is running in line with the 26-day EMA (gold line).
While both lines are running above zero, it matters greatly which one ends up on top. For the short to medium term, the bulls will be rooting for the black line, while the bears will be hoping that the gold line can wind up on top.
(Moomoo Technologies Inc. Markets Commentator Stephen “Sarge” Guilfoyle had no position in AMZN at the time of writing this column.)
This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct.
Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.
TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.