NEW YORK (TheStreet) -- Amazon.com (AMZN) will be "fine" under President-elect Donald Trump when he takes office in January, Cowen analyst John Blackledge said on CNBC's "Power Lunch" on Thursday afternoon. Shares of the e-commerce giant have dropped nearly 5% since the presidential election on Tuesday.
Earlier this year, Trump spoke to CNBC about antitrust concerns surrounding Amazon.com, as well as its CEO Jeff Bezos and his ownership of The Washington Post. "And believe me, if I become president, oh, do they have problems. They're going to have such problems," Trump claimed at the time.
"Does that comment factor in any concern for Amazon?" CNBC's Melissa Lee asked Blackledge today.
"For us, not at all," he answered. The company's fundamentals are still "very strong," with accelerated growth in both Amazon Prime members and in units sold. In addition, Amazon has built 23 fulfillment centers in the past four months.
"Nearly one-third of Amazon's sales come from outside of the U.S. so if we're moving to a more protectionist country with more tariffs, doesn't that factor in?" Lee asked.
"Yeah, it could," Blackledge admitted. Amazon.com is known for its vast selection of products so if there was a drop in international sellers, then that's something the firm will have to "look at and think about in the coming months."
But overall Amazon will be fine because it's "crushing" it in e-commerce sales both domestically and internationally, he reiterated. "I don't see any disruption in their business."
Earlier today, Bezos tweeted out a message of support for Trump by writing, "Congratulations to @realDonaldTrump. I for one give him my most open mind and wish him great success in his service to the country."
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings team rates Amazon.com as a Hold with a ratings score of C+. COM INC (AMZN) a HOLD. The primary factors that have impacted the team's rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
You can view the full analysis from the report here: AMZNAMZN data by YCharts