hares rose as much as 4.8% to touch $3,030.30, and were on track for their fourth straight daily gain. The stock is up more than 12% over the four-day stretch and has climbed about 80% off a March low, resulting in a market capitalization of $1.5 trillion.
Amazon has seen accelerating demand for its e-commerce and cloud-computing services during the pandemic, which has closed brick-and-mortar rivals and led more people work remotely. Many analysts on Wall Street expect these trends will outlast the pandemic, solidifying the company’s market share and fueling the recent advance.
Despite the growing optimism, Amazon’s rally has left most Wall Street analysts in the dust. Fewer than a quarter of the 50 or so analysts tracked by Bloomberg have a target above $3,000, and the average target is about $2,810. While that is up from the $2,179 average at the end of 2019, it still implies downside of about 7% from current levels., the degree to which the share price exceeds the average target is at aAmazon remains a consensus favorite on Wall Street.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Steinhoff Likely Near to Settling $11 Billion in Legal ClaimsSteinhoff International Holdings NV is close to reaching a potential deal on 10 billion euros ($11 billion) of legal claims lodged against the global retailer following an accounting scandal that almost wiped out the company, according to two people with knowledge of the matter.
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »