On Wednesday, Amazon.com Inc. (NASDAQ:AMZN) expanded its less-than-truckload (LTL) freight service across the U.S., allowing businesses of all sizes to ship palletized freight to warehouses, distribution centers, and retail partners beyond Amazon’s network.

The service, part of Amazon Supply Chain Services (ASCS), supports shipments of one to six pallets and offers features including real-time GPS tracking, automated scheduling, electronic proof of delivery, and EDI integrations.

Third-Party Logistics Growth Opportunity

The expansion builds on Amazon’s broader push into third-party logistics, a market Bank of America estimates is worth $1.3 trillion globally.

Recently, analysts said Amazon’s ASCS rollout could become a significant long-term growth driver by monetizing logistics infrastructure originally built for its retail operations, similar to the Amazon Web Services model.

The company said the latest LTL expansion is backed by a network of more than 80,000 trailers and 24,000 intermodal containers and follows strong demand from sellers and vendors that have used the service since 2019.

Amazon Stock Performance And Technical Outlook

Amazon shares edged lower in Wednesday’s premarket trading as a broader risk-off move weighed on technology stocks, with Nasdaq futures down 1.35%.

Despite the pullback, Amazon remains above its 100-day and 200-day moving averages, preserving its longer-term uptrend. However, the stock is trading below its 20-day and 50-day moving averages, while the MACD indicator remains bearish, signaling softer near-term momentum.

Earnings Expectations And Analyst Forecasts

Wall Street continues to view Amazon favorably ahead of its expected July 30 earnings report.

Analysts expect Amazon’s second-quarter earnings per share to rise to $1.82 from $1.68 a year earlier, representing 8.3% year-over-year growth. Revenue is projected to increase to $195.94 billion from $167.70 billion, marking 16.8% year-over-year growth.

The stock carries a Buy consensus rating and an average analyst price forecast of $320.86. Recent analyst moves include:

  • TD Cowen: Buy (Maintains forecast to $350.00) (May 12)
  • Truist Securities: Buy (Raises forecast to $320.00) (May 29)
  • Wells Fargo: Overweight (Lowers forecast to $312.00) (May 20)

Amazon Stock Price Activity

Price Action: Amazon.com shares were down 0.41% at $243.20 during premarket trading on Wednesday, according to Benzinga Pro data.

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