Recent pullbacks in Amazon and Goldman Sachs may provide a golden opportunity for investors, according to Jay Woods of Freedom Capital Markets.
The firm’s chief global strategist appeared on CNBC’s “Power Lunch” on Thursday, offering his takes on some of the day’s biggest market stories. Here is what he had to say during “Three-Stock Lunch.”
Amazon
Shares of the dominant e-commerce platform fell almost 4% Thursday, leaving it off 5.5% for the week and on pace for its fifth straight weekly loss on the heels of President Donald Trump’s tariff developments.
“We’re afraid of tariffs. We know that concern, but overall, you look at what they’ve done consistently over time, it’s best in class,” Woods said.
After Hours: Last | 03/07/25 EDT
-0.22 (-0.11%)-1.44 (-0.72%)While the stock has fallen nearly 9% year to date, it has still risen almost 16% over the past 12 months. Woods also highlighted Amazon shares holding above their 200-day moving average, now around $200, according to FactSet.
“I want to put money to work here,” he continued. “I want to get in the stock. If you’ve not been in Amazon, you have a time to get into it right now, because $200 is a great level. And then, if this market accelerates, I think anything cheaper [is a] great opportunity.”
Goldman Sachs
Like Amazon, Woods views Goldman Sachs – which also fell more than 4% Thursday – as another best-in-class stock giving new investors an opportunity to buy.
“Mergers and acquisitions are going to happen,” he said. “Now, we’re living through tariff season, which I didn’t know was a season until just recently, and we are focused on that, and M&A has been pushed to the side.”
“We haven’t seen these deals come through, but I don’t for a minute believe that this isn’t a good place to enter the stock over the long term,” Woods added.
After Hours: Last | 03/07/25 EDT-8.00 (-1.40%)Goldman Sachs’ Thursday decline brings the one-month loss to almost 14%. Over the past year, however, Goldman is still ahead 46%.
Exxon Mobil
Shares of Exxon Mobil rose 2.1% Thursday, helped by firmer oil prices, though global benchmark Brent was still below $70 a barrel amid uncertainty over President Trump’s tariffs as well as plans for OPEC+ to increase production.
“I know the price at the pump has been going down and the sector has been beaten down, but if you can stay long the stock above $102, $103, you can manage that risk,” the strategist said. “I think Exxon Mobil is a great entry spot here at this $107 level, I believe. If it gets above $112, it should run to $120.”
The stock is down more than 5% in the past three months.
