“I made the wrong decisions on Google and Amazon,” investing guru Warren Buffett told shareholders at the annual Berkshire Hathaway 2018 meeting on Saturday. “We've looked at it. I made the mistake in not being able to come to a conclusion where I really felt that at the present prices that the prospects were far better than the prices indicated.”
So what other key investing insights can we derive from the Oracle of Omaha? And what does the Street have to say about Buffett's take on Amazon and Google. Is it really too late to invest? TipRanks tracks over 4,700 Wall Street analysts. This allows us to discover the latest investing advice from the Street's best-performing analysts. Let's take a closer look now.
What's hot
Amazon
Of Jeff Bezos, CEO of Amazon (Nasdaq:AMZN), the 87-year-old billionaire revealed: “I had a very very very high opinion of Jeff's ability when I first him, and I underestimated him.” Under Bezos' guidance, Amazon is shaking up the retail world and the IT world simultaneously.
“I've watched Amazon from the start. I think what Jeff Bezos has done is something close to a miracle. The problem is when I think something will be a miracle, I tend not to bet on it. It would have been far better obviously if I had some insights into certain businesses.”
Indeed, Amazon is one of the Street's most popular stocks right now. We can see from TipRanks that 36 out of 37 analysts are bullish. Although Buffett finds shares pricey, these analysts still see AMZN as a compelling investment opportunity with 16% upside potential.
Five-star Monness analyst Brian White is even more bullish than consensus. He has just ramped up his price target to $2,200 (39% upside) on the back of AMZN's ‘truly exceptional' Q1 results.
“Amazon continues to expand its reach across new areas and disrupt industries. Given the company's minuscule market share in the global retail market, we believe the company can continue to grow at a rapid clip for years to come” concludes White. You can click on the screenshot below for further AMZN insights:
