Amazon remains best internet idea at JPMorgan into Q1 results

JPMorgan says Amazon.com (AMZN) remains the firm’s best internet idea into the Q1 reports. With macro pressures weighing on consumer spending, e-commerce trends in Q1 remained "muted" with growth tracking modestly better verses Q4 levels, but growth decelerating through the quarter, the analyst tells investors in a research note. The firm believes Amazon should benefit from easing retail compares into 2023 and it is confident the company can expand operating margins in 2023. It keeps an Overweight rating on the shares with a $135 price target.