ザックスが最新アナリストレポートでアマゾン、ウォルマート、アメリカン・エキスプレス、そして小型株2銘柄に注目

Resilient performance with positive comparable sales and expanding private-label portfolio, but faces risks from softer consumer spending on premium organic products.

Supported by omnichannel ecosystem and growing profit drivers like marketplace and advertising, but near-term profitability may be affected by fuel costs and elevated investments.

Shifting toward higher-value infrastructure markets and benefiting from favorable tariff dynamics, but must improve profitability and manage leverage and asbestos liabilities.

Benefited from strong spending growth among younger consumers and returned $2.3B to shareholders, but rising expenses and credit-loss provisions warrant Neutral rating.

Rising capex for AI infrastructure and increasing debt pose risks, but diversification across e-commerce, AWS, advertising, and streaming supports outperformance.