Tesla’s stock may see a bumpy ride in the near term, but investors should stick with the electric-car maker over the long haul, said D.R. Barton, Jr., chief technical strategist for MoneyMorning.com. ‘If they can get the gigabyte factory online on time, and if they can get that Model 3, the everyman car, up and going in 2017, then this thing is going to keep appreciating,’ said Barton about the company which has seen its shares jump over 19% so far in 2015. Barton is also bullish on Amazon.com’s stock which has jumped almost 73% year-to-date. Two weeks ago the Seattle-based company reported second-quarter revenue of $23.2 billion, up 20% year over year, and earnings of 19 cents per share. Analysts surveyed by Thomson Reuters were expecting Amazon to lose 14 cents a share on $22.4 billion in revenue. Barton said investors should not worry about the fact that sometimes the company reports earnings and sometimes it does not and simply trust management to extract value from the retailing behemoth Jeff Bezos created. ‘The cool thing is that people are affirming Jeff Bezos,’ said Barton. ‘He can turn that earnings spigot on any time he wants. They can have astronomical earnings any time that they decide not to have as much growth.’ Staying in the internet sector Barton said he remains positive on social media giant Facebook, up 23% year-to-date, because of its user growth.
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