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Down 28% over the last year and testing pre-COVID levels, shares of mega-cap tech giant Amazon (NASDAQ:AMZN) are bucking the broader market weakness on Friday following bullish data from a tech-focused analytic research firm YipitData.
Specifically, the firm’s data shows that the retail side of Amazon’s business in North America is performing above the Street.
YipitData said Amazon’s North American Net Sales are projected to beat consensus in 1Q23 while April sales are also trending ahead of 2Q consensus.
Shares of Amazon are up 2.5% mid-day Friday while the broader tech-heavy NASDAQ is down 0.2%.
