in Striking Distance of $1 Trillion Valuation

10:52 08/30/2018

One of the market’s most popular online stocks just hit a new all-time high. AMZN  now trades above $2,000 a share, and could still balloon to $2,500 this year. All while making Jeff Bezos even richer. It’s now in striking distance of a trillion-dollar valuation with a market cap of $951.91 billion. Apple Inc. AAPL  crossed their threshold not long ago. Amazon’s stock surged after Morgan Stanley analysts raised its target price to $2,500. “We are raising our price target from $1,850 to $2,500 … as we have increasing confidence that Amazon’s rapidly growing, increasingly large, high margin revenue streams (advertising, [Amazon Web Services], subscriptions) will drive higher profitability and continued upward estimate revisions,” analysts noted. The reason for such growth – the CEO doesn’t see any territory he’s not willing to jump into. As long as that continues, the stock could eventually hit $3,000, maybe even $4,000 in the next few years. It’s doable after this run to $2,000.

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