Amazon‘s stock price has reached an all time high on Thursday with the shares touching $999 before falling back before the end of trading. The below graph shows the trajectory of the stock over the past year.
And it looks like there is plenty of growth still to come. JPMorgan has a December 2017 target of $1100 per share. Other analysts are even more bullish looking at a forecast of $1250 by year end.
JPMorgan analyst Doug Anmuth says: “We believe Amazon is well positioned as the market leader in ecommerce, where it’s still early days with U.S. ecommerce representing ~12% of adjusted retail sales (ex-gas, food, and autos). We believe Amazon continues to show strong ability to take share of overall ecommerce, and its flexibility in pushing first-party vs. third-party inventory and its Prime offering both serve as major advantages.”
So far this year Amazon stocks are up 32% already compared with the S&P 500’s 8% rise. The stock is also up 40% in the past 12 months. he growth in the share price means that Amazon CEO and founder Jeff Bezos is now the road’s second richest person and could well become the richest man in the world if the stock continues to appreciate.
2 Responses
I stopped selling with Amazon yesterday, no longer worth my while. But it looks as if the shareholders won’t be too worried.
Yay, rock bottom prices and pitiful margins for all sellers, except for Amazon who have the advantage of numbers and their own logistics company.