Amazon nails it yet again, this time at $1,000
Amazon creates history once again. Here’s how…
Amazon, e-commerce giant hit the milestone $1000 per share on the stock market, for the first time ever in history. This move comes as a victory for the company after a 52-week low of $682.12.
So far, only 14 other US stocks have traded above $1000 per share, and the only other tech company in the club is Priceline group, currently trading around $1865, according to FactSet. Amazon happens to be four times more valuable than those 14 other companies combined.
Sources reveal that there are possibilities of the shares reaching even higher, as Amazon has been growing massively over the time, with no signs of slowing down, commented John Blackledge, an analyst at Cowen and Company LLC, who aims at achieving a price target of $1,125 per share.
To quote him further, “There’s a long runway there. The markets with which Amazon is playing in with global retail and cloud computing is just massive. Things continue to go well and investors are looking for more upside.”
Amazon enjoys a good market share in the e-commerce domain, more so after the Amazon Prime subscription, that comes with delivery discounts, music and video streaming, and photo storage that keeps its customers glued for hours. The company enjoys another advantage of being profitable and fast growing cloud computing division- Amazon Web Services that has maintained a global network of data centres and has also rented out storage space and computing functions to a variety of clients across the borders.
Mark Cuban, an investor with Amazon says, “Amazon is worth far more than $1000 a share. Consumers always want things at lower prices delivered faster. Amazon uses data better than anyone to achieve those goals for everything it sells. They have a chance to be the most dominant company in the world.”
With Amazon casting its magical spell over the e-commerce field, how do you think Flipkart is going to be affected by it? Please share your views.
Sources: CNBC, Mint