Amazon and Facebook Bulls Cling to Buys Amid Negative-News Flood
- Analysts hold steady with more than 40 buy ratings for each
- Wall Street sees the buying opportunity outweighing concerns
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When a stock falls seven percent in four trading days, or 16 percent in two weeks, it usually prompts some negativity -- if not a downgrade or two -- from Wall Street. Not so for Amazon.com Inc. and Facebook Inc.
The companies have been defended by numerous firms in the wake of their respective share-price declines: Amazon’s spurred by a series of criticisms from President Donald Trump and Facebook amid its ongoing user-data crisis. Both internet giants have more than 44 buy or equivalent ratings among analysts tracked by Bloomberg. Amazon has one sell rating, while Facebook has two.