Amazon is known to everyone. The high-tech giant has got two main areas of work – online retailing and the provision of a wide range of “cloud” services. It is not at all surprising that a lot of investors consider the company’s shares to be protective.
Amazon’s advantages in terms of global quarantine are obvious: online trading has got new customers due to the closure of traditional shops the interest in “cloud” services has grown since they are in demand because nowadays everyone works online not offline.
Yesterday’s trading session ended for Amazon with an absolute historic maximum. In total, during the day the increase has amounted to 5.3%; the asset finished the day at around 2,283.32 USD. The company’s capitalization is currently equal to 1.14 trillion US dollars.
Amazon stock has increased 23.6% since the start of the year. This is an impressive result if you remember that the S&P 500 stock index has fallen by 14.5% over the same period.
Experts are revising the company’s revenue forecasts upward. It is estimated that the revenue for the first quarter will be equal to $ 72.5 billion; over the year its volume will total $ 334.14 billion. Analysts believe that the rally will continue, the price of one Amazon share will reach $ 2,463.5, which is 6.2% higher than current values.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group