Amazon (AMZN) - Get Report will report 2016 fourth quarter earnings on Thursday after the market close, and the potential sell off of shares on Friday could provide a buying opportunity, Najarian Family Office co-founder Pete Najarian said on CNBC's "Halftime Report" on Tuesday afternoon.
Last time the e-commerce giant reported earnings back in October, the stock price dropped the next day, so that may happen again this week, he pointed out.
"I wish I was in Amazon," he claimed. "I just haven't pulled the trigger to own the daggum thing, and I continue to miss it. On a big pullback, I just wait for that opportunity. A pullback that doesn't make any sense, if we get that, that's the opportunity."
The stock is attractive because of the growth coming from its cloud business, Najarian said. While the e-commerce business is "great," people should be focused on AWS (Amazon Web Services) because that's "where the margin is." "They're the owner of this space really right now," he added.
Amazon is expected to report earnings of $1.35 a share on $44.67 billion in revenue.
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with afree trial.)