Wednesday, 14 November, 2018

Amazon Hits $1 Trillion

Amazon's effect on local economies Amazon's effect on local economies
Jan Cook | 05 September, 2018, 16:14

Its shares traded as high as $2,050.50 before easing a little to end the session at $2,039.51, up 1.3 percent and just short of the milestone level of $2,050.2677. While Apple's iPhone and other devices remain popular and its revenues are growing, it is not keeping up with Amazon's blistering sales growth. For example, you can expect to see Amazon commercials during NFL Thursday Night Football this season, as well as ads on video game streaming service Twitch, which the company acquired in 2014. And its cloud computing services for companies have become a major driver of earnings and revenue. Saudi Arabia's national energy company, Aramco, is widely believed to be worth much more than either Amazon or Apple. It has revolutionised how people shop online. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%). For added reference, the company's stock reached $1,000 in October of 2017, and broke $100 in October of 2009.

The company's success put its founder and chief executive Jeff Bezos top of the Forbes billionaires list this year. It has held above that level since October 27, 2017. That milestone, just a month after it reached a $900 billion valuation threshold. On Tuesday morning, the stock climbed enough to push the company's valuation pass the $1 trillion mark, although it dropped back slightly after that.

NAFTA negotiations continue in Washington as Friday goal nears
The U.S. and Mexico have apparently agreed that 75 per cent of the content of cars sold must come from the U.S. or Mexico. At one point, Trump mused that simply imposing punishing tariffs on Canadian cars would be easier.

For graphic on Analyst Price Targets, click https://reut.rs/2NHwHQq The stock is up 74.5 percent year to date. In comparison, Apple has risen about34.7 per cent year to date. The company's stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent.

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