Amazon Prime Day set to lift US online sales to $23.8 billion, Adobe estimates
1. Adobe Analytics forecasts $23.8 billion in online spending during Amazon Prime Day. 2. Strong discounts on back-to-school items drive significant retail spending.
FAQ
Why Bullish?
The surge in expected online spending indicates a strong market demand. Historically, increased consumer spending during events like Prime Day has positively impacted tech companies like Adobe, which may benefit from higher utilization of its e-commerce tools.
How important is it?
The predictions from Adobe's own analytics division demonstrate strong market activity, which is likely to reflect favorably on ADBE's stock price due to perceived value in their analytical capabilities.
Why Short Term?
The upcoming Prime Day event will provide immediate boosts in online retail, impacting earnings and stock performance soon after the event.