Stock Watch- Stock pick — Amazon
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Nesan Nair from Sasfin Securities chose Amazon and independent analyst Chris Gilmour chose to not go for any picks just yet.
Nair said: "I'm going to be boring and call Amazon again, their results were out this week and they were sold off heavily as because the results did disappoint. They are spending $4bn in their own business addressing coronavirus on safety procedures and for them I think the cost of doing business has just gone up because of the coronavirus. Not a lot of businesses are going to be able to survive this so I think in a year or two years’ time they're are going to be even stronger than where they are right now."
Gilmour said: "I'm going to be even more boring I'm going to say that I'm going to still be sitting on my hands. I mean you could go for stocks like AstraZeneca for example that's if you're confident that the Oxford university is going to create a vaccine for this coronavirus in the next few months, but you know that's that is a big bet so I'd be steering away from that. So, at this point in time as we said earlier I think what we're seeing now is a rally in a bear market and I think we've got more downside to come, so I think I'd just be holding fire at this point in time."
Nair said: "I'm going to be boring and call Amazon again, their results were out this week and they were sold off heavily as because the results did disappoint. They are spending $4bn in their own business addressing coronavirus on safety procedures and for them I think the cost of doing business has just gone up because of the coronavirus. Not a lot of businesses are going to be able to survive this so I think in a year or two years’ time they're are going to be even stronger than where they are right now."
Gilmour said: "I'm going to be even more boring I'm going to say that I'm going to still be sitting on my hands. I mean you could go for stocks like AstraZeneca for example that's if you're confident that the Oxford university is going to create a vaccine for this coronavirus in the next few months, but you know that's that is a big bet so I'd be steering away from that. So, at this point in time as we said earlier I think what we're seeing now is a rally in a bear market and I think we've got more downside to come, so I think I'd just be holding fire at this point in time."