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Amazon roars back into $1 trillion club, powered by one-day delivery boost – Source Reuters Tech News

(Reuters) – There is no stopping’s revenue growth (AMZN.O), Wall Street analysts said on Friday.

FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo

The e-commerce giant re-entered the $1 trillion club after its results crushed expectations, benefiting from investments in faster shipping and a surge in Prime membership.

Nearly half of the 51 brokerages covering Amazon raised their 12-month price targets on the company’s stock, which was up 9% at $2,036 in early trading.

In a note titled “Not-so-subtle Reminder Amazon is Still King”, Benchmark analysts said Amazon reminded the world of its “size and capacity advantage,” and raised his price target by $150 to $2,400.

Net sales jumped 21% to $87.4 billion, with sales from AWS – the business responsible for selling data storage and computing power in the cloud – growing 34%. Revenue from subscription fees surged 32% as more…

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Source Reuters Tech News

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