Amazon.com 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.

Amazon.com 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.






This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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